Dear Readers,

In this update we highlight some of the more interesting, poignant and relevant matters in terms of Drought and Insurance in Australia from various media mediums including print, digital media, radio and TV:

From radio 2 GB Nationals MP Adam Marshall referring to Federal counterpart, Agriculture Minister, David Littleproud – listen here

From here

NB :  Neal Hughes, Senior Economist, Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) sentiments "in recent years, governments have focused on promoting private drought insurance markets. However, public schemes are also possible and exist in many other countries"
 

From here

From here

NB :  The report found that the move would be uneconomical, as 80% of government aid after droughts is allocated to livestock producers. The report cited the finding that there are currently no insurance policies available for livestock producers as a reason for its decision *

* OBA Consulting update
A letter received by OBA Consulting office 14th January 2020 from David Littleproud referred to OBA Consulting’s “continued correspondence
with the Australian Government” with respect to Livestock Drought Insurance and “effectively operating markets”:

Below is a summary of Farm Insurance products offered by mainstream insurers in Australia with respect to FIRE, FLOOD and DROUGHT for Livestock:

From available on YouTube here and here:

NB : The full outcome of the MDBA review, referenced in embryonic stage in ‘Water Wars’ above can be seen in this OBA Consulting update

Nonetheless despite the review commissioned by Minister for Water, David Littleproud and its scathing findings headlines like this from last month persist:

From ABC’s Drought special from October 29th 2019 here

From here

NB :  In a statement that has relevance to Agriculture Risk Transfer in Australia Chubb Insurance made the below statement referencing the ARPC (Australian Reinsurance Pool Corporation) in reference to Covid-19.

OBA Consulting put a proposal to Government 5th June 2019 referencing the ARPC highlighted in update of 29th January 2020 here, to which no response has been received.

A great initiative from Zurich for Drought effected farmers from 2018 and email received from Zurich 21/04/2020: