Industry Analysis & Industry Trends
Despite growth over the past five years, revenue generated by the Agricultural Insurance industry remains below pre-recession levels. Over the past five years, insurers have had to cope not only with severe flooding but also with a difficult investment environment. Industry revenue is expected to increase at a compound annual rate of 2.5% over the five years through 2016-17. However, this is partly due to weak revenue performance in the base year. In 2016-17 IBISWorld expects the economic environment to deteriorate slightly, but industry revenue is still forecast to increase by 0.2% to reach just under £1.3 billion... purchase to read more
Industry Report - Industry Products Chapter
The areas of agricultural and farm insurance cover a wide variety of risks and potential liabilities. Product segments are given as a percentage of gross premiums written.
Farm combined insurance
Farm combined insurance policies tend to cover a broad range of items. Coverage is often tailored to customer needs and may include buildings, machinery, livestock, personal accident, illness, and house and contents insurance in one policy. Some policies also include hailstorm insurance for crops. The majority of insurance policies written by the Agricultural Insurance industry are in this form of combined farm insurance. The recent spate of dramatic weather changes means that farmers have become more wary of the potential harm caused by natural disasters. For.. purchase to read more