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Agricultural Insurance in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Agricultural Insurance Market Research Report | Advisory & Financial Services | Specialist Insurance Lines | Apr 2016

Fertile ground: Revenue will rise as regulatory changes aid industry performance

IBISWorld’s Agricultural Insurance market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
ACE Group ACE Group market share
American Financial Group American Financial Group market share
Farmers Mutual Hail Farmers Mutual Hail market share
QBE QBE market share
RCIS RCIS market share
Industry Statistics & Market Size
Revenue
$11bn
Annual Growth 11-16
-3.3%
Annual Growth 16-21
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Profit
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Employment
18,912
Businesses
25
Industry Analysis & Industry Trends

Despite steep losses incurred in 2012, sharp increases in crop insurance protection in force and strong premium gains in 2011 have driven the performance of the Agricultural Insurance industry in the past five years. Moreover, regulatory changes are anticipated to dictate the industry's performance over the five years to 2019. The 2014 Farm Bill continues to solidify crop insurance as the most important means for farmers to hedge production and price risk. Ultimately, industry revenue is forecast to rise, with consistent increases in the agricultural price index driving up revenue from 2016 onward.... purchase to read more

Industry Report - Starting a New Business Chapter

The Agricultural Insurance industry has high barriers to entry. In addition to increasing market share concentration and rising competition, potential crop insurers must satisfy intense regulatory requirements. To provide multiple peril crop insurance (MPCI), a private insurer must become an Approved Insurance Provider (AIP) through the Federal Crop Insurance Corporation (FCIC). According to the US Department of Agriculture (USDA)'s Risk Management Agency (RMA), which manages the FCIC, an AIP is a legal entity that has entered into a Standard Reinsurance Agreement (SRA) with the FCIC for the applicable reinsurance year... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Agricultural Insurance Industry?

Agricultural insurance, also known as crop insurance is purchased by agricultural producers, including farmers, ranchers and others. It protects against either the loss of their crops due to natural disasters, such as hail, drought and floods, or the loss of revenue due to declines in the prices of agriculture commodities.

Industry Products
Multiple peril crop insurance - revenue programsMultiple peril crop insurance - other programsCrop-hail insurance
 
Industry Activities
Providing multiple peril crop insuranceProviding crop-hail insurance


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