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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 | Oct 2014

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
QBE QBE market share
RCIS RCIS market share
Industry Statistics & Market Size
Revenue
$12bn
Annual Growth 09-14
4.2%
Annual Growth 14-19
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Profit
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Employment
20,305
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 - Industry Investment Chapter

The Agricultural Insurance industry operates with a low level of capital intensity. In 2014, IBISWorld estimates that for every $1.00 spent on wages, the industry will allocate $0.09 to capital investment, mirroring the industry's level of capital intensity in 2009. Capital is used for a number of reasons, including for information technology as advanced systems are used to track policies, payments and claims. Systems are also used by actuaries to model insurance risk, which is particularly difficult for industry operators, given the unpredictability of natural disasters. Companies have continued to improve their technology in order to provide better customer service, such as efficient responses to both current and prospective agricultural clients and user-friendly websites... 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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