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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 is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

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 Products Chapter

Agricultural insurance, or crop insurance, plays an integral role in managing risk for the modern American farmer. There are two primary types of crop insurance in the United States: multiple peril crop insurance (MPCI) and crop-hail insurance. The following product breakdown is based on MPCI and crop-hail premium data provided by Rain and Hail LLC for the crop insurance industry.

Multiple Peril Crop Insurance (MPCI)

Multiple peril crop insurance (MPCI) policies are administered by Approved Insurance Providers (AIPs) and reinsured by the Federal Crop Insurance Corporation (FCIC). AIPs are required to enter into a Standard Reinsurance Agreement (SRA) with the FCIC... 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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