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Hannover Re

Web Address:
https://www.hannover-re.com/
Email Address:
Published by:
Focus Region:
Global
Focus Country:
Germany

Agricultural and livestock business is one of Hannover Re’s specialty businesses. In this highly specialized line of business, clients seek not only reinsurance support but also advice and expertise.┬áIts team of specialists, which is comprised of agronomists and a veterinarian, operates worldwide.

Agricultural and livestock insurance is gaining in importance not only in developed countries but also in emerging markets, where governments are increasingly supporting farmers with premium subsidies. Hannover Re therefore anticipates increased demand for agricultural and livestock insurance.

The principal lines of business in our specialty are:

  • Hail insurance
  • Multi-peril crop insurance (MPCI)
  • Forestry
  • Livestock
  • Aquaculture
  • Greenhouses and plant nurseries

Insured perils:

  • Crop hail: hail and possibly other named perils such as fire
  • MPCI: storm, flood, frost. Extended coverage at an additional premium for drought, uncontrollable pests and diseases
  • Forestry and greenhouses: fire, lightning, aircraft explosion. Extended coverage: frost, weight of snow, storm, hail
  • Livestock: mortality caused by fire, natural perils (storm, flood, etc.), accidents, manifestation of disease, illness
  • Aquaculture: death caused by natural perils, algae bloom, pests and diseases