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Agriculture accounts for 13.2% of Bolivia’s GDP and employs one in three of the working population. Small-scale family farmers in the highlands make a substantial contribution to agricultural production. To protect these and other farmers against natural disasters, the Bolivian government has established an agriculture insurance programme. Such is the importance of the industry, demand for insurance continues to be high.
Agriculture employs one in three people in Sri Lanka and contributes over ten percent to export income. This important sector of the economy relies on rain – a resource that will become increasingly unpredictable with global warming. Protecting farmers against future floods and droughts is paramount to keep employment and income from this economic pillar growing.
Agriculture employs one in four in Peru. A highly diversified sector, it includes all segments – from commercial to smallholder farming. Export income from coffee is important to the economy but at the same time it’s exposed to many perils: The coffee leaf rust outbreak in 2012/2013 was just the latest event to hit the sector
Kazakhstan is one of the largest grain producers and exporters in the world. However, drought frequently endangers large parts of the country and is the number one threat to farmers.
While the potential of agriculture in Angola is huge, so are the threats. In particular, drought and floods endanger farmers’ harvests. Keeping farmers in business, even if disaster strikes, is a key task and a great opportunity for the fast growing Angolan insurance sector.
Climate and fertile soils are the backbones of the agricultural sector in Senegal. Groundnut, cotton, tobacco, fruits and vegetables are its main cash crops. Livestock contributes about 37% to agricultural value and 5.5% to GDP. Protecting these businesses against drought, floods and storm will be key for more development in the future.
Zimbabwe supplies one third of tobacco worldwide. But not only is tobacco king in the country, fertile soils and a moderate climate make it perfect to grow maize, sugar cane, cassava, wheat, cotton, tea and oranges. Hail, drought, floods and storms endanger these crops and with it the core of Zimbabwe’s economy.
With 65% of the workforce employed in agriculture, millions of people living in sub-Saharan Africa depend on farming not only for food, but also for incomes and livelihoods. Without enough rain to feed the land, the effects can be devastating.
With combined revenues of EUR 1.5 billion, the US and EU markets represent some of the largest food markets globally. What are the key trends relating to food safety?
A large share of Cameroon’s income depends on the export of agriculture commodities, mainly cocoa, cotton and natural rubber. These segments can be deeply impacted if the threats of floods and drought in the country come to pass.
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(Swiss Re Institute) Risk Dialogue Magazine
The Risk Dialogue Magazine is a newsletter exploring future risk topics, featuring multimedia articles from the Swiss Re Institute's events and insights from our global network of experts.
Our sigma publication series provides comprehensive information on the international insurance markets and analyses of economic trends and strategic issues in re/insurance and financial services.
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Our publications share our expertise on issues of concern to our clients, the re/insurance industry and society - from food, health, longevity and financial security to managing climate and natural disaster risk.