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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 Locations Chapter

Crop insurers tend to concentrate around the most important agricultural areas in the United States. Industry operators locate close to farmers to improve the efficiency of claims adjusting and processing. However, agricultural insurers also locate close to financial centers, as many industry operators are subsidiaries of larger insurance companies. As a result, most industry establishments can be found in the Southeast, Great Lakes, Mid-Atlantic, West, Southwest and Plains regions of the United States.

Southeast

The Southeast accounts for an estimated 22.8% of industry establishments. In addition to being an agricultural center, this region is vulnerable to hurricanes and other tropical storms that can damage crops... 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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