Farm Insurance :: News

Share this news item!

Risk Appetite Surge Among Reinsurers Post-Pricing Shift

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

The appetite for natural catastrophe risk among reinsurers has notably risen following strategic pricing adjustments and program refinements, a recent report by S&P Global Ratings reveals.

According to S&P Global Ratings, these reinsurers have been encouraged by revised pricing mechanisms and elevated attachment points, resulting in a notable uptick in risk exposure among leading market players. The ratings agency's latest insights point toward a significant recalibration of risk appetite largely influenced by these pricing structures.

"There's been a pronounced willingness to embrace greater natural catastrophe risk due to recent pricing recalibrations," the S&P report states. "We observe a marked increase in risk uptake among major reinsurers as they leverage corrected pricing and program adjustments."

Interestingly, a smaller segment of reinsurers have chosen to either scale back or maintain their existing exposure levels. This contrasting approach is often dictated by longer-term strategic frameworks aimed at business diversification and underwriting stability.

"For some, the strategy is rooted in long-term business diversification and minimizing underwriting volatility," the report elaborates.

These insights from S&P Global Ratings set the stage for the forthcoming Rendez-Vous de Septembre in Monte Carlo, scheduled for September 7-11. This annual event will likely witness discussions influenced by recent market shifts and reinsurance strategies.

Source: Original insights were derived from S&P Global Ratings' report.

Published:Wednesday, 4th Sep 2024
Author: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

Australian Farmers Confront Rising Insurance Premiums Amid Climate Challenges

22 Mar 2026: Paige Estritori

Australian farmers are currently grappling with a significant surge in insurance premiums, with increases ranging from 20% to 40%, depending on the insurer. This escalation is primarily driven by the rising frequency and severity of natural disasters, coupled with a contracting underwriter market and escalating costs of goods and services. - read more

Widespread Rural Crime Exposes NSW Farmers to Repeated Victimisation

22 Mar 2026: Paige Estritori

A recent survey conducted by WFI Insurance in collaboration with the University of New England (UNE) Centre for Rural Criminology has unveiled alarming statistics regarding rural crime in New South Wales. The findings indicate that over 90% of NSW farmers have encountered criminal activities on their properties, with approximately 30% reporting being targeted seven or more times. - read more

Elders Insurance Highlights Increased Summer Storm Risks for Farmers

22 Mar 2026: Paige Estritori

As the Australian summer approaches, Elders Insurance has issued a cautionary advisory to farmers, emphasising the heightened risk of storm-related damages during this season. Recent data indicates a significant increase in insurance claims due to summer storms, underscoring the need for proactive measures to safeguard agricultural assets. - read more

CGU and WFI Collaborate with Ag Guard to Boost Farm Insurance Services

14 Mar 2026: Paige Estritori

In a significant development for Australia's agricultural sector, CGU and WFI Insurance have announced an exclusive partnership with Ag Guard, a technology-driven agricultural insurance agency. This collaboration, set to commence in June 2026, aims to bolster the agricultural insurance capabilities of both insurers and enhance digital services for brokers, partners, and customers. - read more

Insurance Council Declares Significant Events for Northern Territory and Queensland Floods

14 Mar 2026: Paige Estritori

The Insurance Council of Australia (ICA) has declared two Significant Events in response to the severe rainfall and flooding that have recently impacted the Northern Territory and Queensland. This declaration pertains to the flooding in Katherine and surrounding regions in the Northern Territory, as well as the Bundaberg region and Burnett River catchment in Queensland. - read more

Insurance Council Advocates for Climate Resilience Investment on Cyclone Alfred Anniversary

14 Mar 2026: Paige Estritori

Marking one year since Tropical Cyclone Alfred caused $1.5 billion in insured damages and an estimated $2.7 billion in total economic losses, the Insurance Council of Australia (ICA) has renewed its call for urgent investment in climate resilience. The ICA emphasises the need for proactive measures to mitigate the impact of extreme weather events, which are becoming more frequent and severe due to climate change. - read more

Click for more Insurance News

Farm Insurance Articles

When the Rain Doesn't Come: Financial Planning Tips for Persistent Drought

For farmers across rural Australia, the unyielding dry spells brought on by persistent drought conditions are not just an environmental concern but a significant financial challenge. Effective financial planning becomes a cornerstone strategy for ensuring the resilience and longevity of these crucial agricultural businesses. The prickling heat and parched earth serve as stark reminders of nature's capacity to impact livelihoods, especially when the rain doesn't grace the farmlands for extended periods. - read more

Understanding Farm Equipment Insurance: What Rural Australians Need to Know

Farm equipment insurance is crucial for rural Australians who rely on their machinery for agricultural productivity. This insurance provides a safety net, helping to mitigate the financial risks associated with equipment loss or damage. - read more

Investing in Cybersecurity: A Crucial Step for Sustainable Farming

Cybersecurity refers to the practice of protecting systems, networks, and programs from digital attacks. In the context of agriculture, it involves safeguarding the digital solutions and technologies that have become intrinsic to modern farming operations. As technological advancements continue to revolutionize the farming landscape, the importance of cybersecurity in securing farm data and operations has become more pronounced. - read more

Preparing for the Worst: Developing a Comprehensive Disaster Response Plan for Your Farm

As a farmer, you know that unexpected events can have a significant impact on your farm and your livelihood. Natural disasters, such as floods, fires, droughts, and storms, can occur at any time and have devastating consequences. That's why it's crucial to have a comprehensive disaster response plan in place to protect your property, assets, and, most importantly, your loved ones and livestock. - read more

Income Protection for Farmers: Ensuring Stability Through Tough Times

The world of farming is one filled with uncertainties. Weather conditions, market prices, and various other factors can create a highly volatile income stream for those within the agricultural sector. This unpredictability can lead to financial instability that impacts not only the farmers themselves but also their families and the larger rural community. - read more

How to Choose the Right Farm Insurance Policy for Your Needs

Farm insurance is a type of coverage designed specifically for the unique risks and operations involved in farming. It encompasses protection for farm dwellings, equipment, livestock, and crops, offering a tailored approach that reflects the diverse needs of farm owners. This coverage can help safeguard your livelihood against unforeseen events that could disrupt farm operations or result in significant financial losses. - read more

Need a Quote?

Start your free farm insurance quote comparison here.

Knowledgebase

Subrogation:
The process by which an insurance company seeks to recover the amount paid to the policyholder from a third party responsible for the loss.

This website is owned and operated by Clark Family Pty Ltd (as Trustee for the Clark Family Trust) 43 Larch Street Tallebudgera QLD 4228, A.C.N. 010281008.

This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.

IMPORTANT: We do not provide financial product advice or credit assistance. We act solely as an introducer and refer enquiries to licensed third-party intermediaries, insurers, and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.