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: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

Share this news item:

Rate this article

0 Comments

No comments yet. Be the first to share your thoughts.

Insurance News

NRMA's Departure from Farm Insurance: What It Means for Australian Farmers

16 Jun 2026: Paige Estritori

In a significant shift within the Australian insurance landscape, NRMA has announced its withdrawal from the farm insurance market, ceasing the sale of new policies as of July 1, 2025. This decision affects both Hobby Farm Insurance and Rural Farm Insurance offerings, leaving many farmers in search of alternative coverage options to safeguard their livelihoods. - read more

New Partnership Strengthens Risk Management in Australia's Protected Cropping Sector

16 Jun 2026: Paige Estritori

Protected Cropping Australia (PCA) and Achmea Farm Insurance have announced a strategic partnership aimed at bolstering risk mitigation and resilience within Australia's protected cropping sector. This collaboration seeks to empower growers by providing tailored insurance solutions and promoting best practices in risk management. - read more

ABARES Report Highlights Insurance as a Key Tool for Managing Agricultural Risks

16 Jun 2026: Paige Estritori

The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) has released a comprehensive report examining the role of insurance as a risk management tool for Australian farmers. The report emphasises that while insurance cannot protect against inevitable events like climate change, it can be instrumental in managing the variability and unpredictability inherent in farming. - read more

ABARES Forecasts Significant Decline in Australian Farm Profits

09 Jun 2026: Paige Estritori

The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) has released a report forecasting a substantial decline in broadacre farm profits, projecting a 70% decrease to approximately $65,000 per farm. This downturn is attributed to escalating input costs and persistent drought conditions affecting various regions. - read more

Low Adoption of Cyber Insurance Among Australian Farmers

09 Jun 2026: Paige Estritori

Recent research from WFI Insurance reveals that only 25% of Australian farmers are considering cyber insurance, despite approximately 80% of farms now utilising some form of agricultural technology (agri-tech). This disparity highlights a significant vulnerability within the sector, as increased digitisation exposes farms to potential cyber threats. - read more

Integrating Sustainability into Farm Risk Management Strategies

09 Jun 2026: Paige Estritori

In the face of increasing climate variability, Australian agriculture is shifting its approach by integrating sustainability into core risk management strategies. This evolution reflects a broader recognition that environmental stewardship is intrinsically linked to the resilience and long-term viability of farming operations. - read more

Click for more Insurance News

Farm Insurance Articles

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

Top 10 Ways Australian Farmers Can Slash Insurance Costs Without Risking Coverage

Welcome to our definitive guide for Australian farmers on managing one of the most crucial aspects of their business: insurance. As a cultivator of the land, you're no stranger to the unpredictability of nature and the market. From intense weather events to fluctuating market demands, your line of work comes with its unique set of risks. Hence, safeguarding your livelihood with the right insurance is not just important—it's essential. - read more

Secure Your Farm's Future: Understanding the Importance of On-Farm Risk Assessment

In the ever-evolving landscape of modern agriculture, the security and stability of a farm hinge on thorough preparation and strategic foresight. A pivotal component in safeguarding a farm's future lies in the critical role of on-farm risk assessment. This process provides a structured approach to identifying potential risks that could affect a farm's operations, financial health, and overall sustainability. - read more

How to Save Money on Your Farming Insurance Premiums

When looking for farming insurance, it is important to shop around for the best deals. Don't simply rely on the first insurance company that you come across. Take the time to research various companies and their policies. Compare them based on their coverage, premiums, and deductibles. - read more

The importance of income protection insurance for hobby farmers

As a hobby farmer, you may not rely on your farm for your main source of income. Perhaps you have a full-time job but enjoy farming as a way to supplement your income and pursue a passion. However, just because farming is a hobby does not mean there aren't risks involved. In fact, hobby farmers face many of the same risks as commercial farmers, such as injury, illness, loss of crops or livestock, and damage to property. - 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

Need a Quote?

Start your free farm insurance quote comparison here.

Knowledgebase

Loss Ratio:
The ratio of claims paid by an insurer to the premiums earned, used as a measure of profitability.

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 act solely as an introducer and refer enquiries to licensed third-party brokers, insurers, and lenders. We do not provide financial product advice or credit assistance. 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 independently verify the credentials and licensing of any adviser or provider you engage. Visit the ASIC website for further information.