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Crop insurance

In recent years, it has become increasingly clear that even stable territories can be subject to dangerous natural phenomena. In our opinion, insurance remains the only way to protect crops against loss related to variable climate.

We possess extensive expertise and a deep understanding of the internal processes of insurance companies, as well as their reinsurance protection and their practice of paying claims. Our experts do not limit themselves to targeting the optimum insurance policy terms, including price and level of deductibles, but also aim to support the insurance contract and our clients' interests whenever losses need to be settled.

The appraisal company, which is part of Challenge Group, will conduct a professional survey of fields and/or crops before the conclusion of an insurance contract with the aim of achieving the optimum insurance policy price. They will also carry out surveys before the onset of an insured event when it is necessary to identify the cause of loss or damage, the biological yield of crops and the amount of damage sustained from a shortfall in the harvest. These measures allow us to streamline and accelerate the procedure for loss settlement.

In addition to insurance programmes based on yield and costs, Challenge Group can offer alternative insurance solutions. These may be particularly useful when there are substantial sums insured, risks that are located in different areas or amounts of claims under standard programmes that did not exceed the premiums paid for these programmes. For example, we can negotiate index-based insurance where indemnity is based on a predetermined index level set out in the insurance contract not being reached. These indices include:

  • Weather index (temperature, moisture content of soil, amount of rain, wind force, depth of snow and amount of snowfall over a period of time)
  • Regional crop yield index
  • Regional revenue index (crop yield plus product prices)

Another alternative approach is a Captive Solution (which is described in detail in its own section).

Challenge Group strives to provide its clients with a full range of services and insurance solutions that give you an easy way to manage risk and reliably protect your business.

Materials
Challenge Group Presentation
Agricultural Insurance
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