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WEATHER RISK INSURANCE
HAIL - WINDSTORM - EXCESS HEAT - DROUGHT - LOW TEMPERATURE - EXCESS RAIN
TRADITIONAL INSURANCE HAIL
Hail insurance, which appeared in the early 19th century, is the oldest form of crop insurance. While the probability of occurrence of a hail event is rather low, the severity is very high as hail events could destroy up to 100% of the value of a plantation in a few minutes.
As a traditional insurance product, the indemnity of a hail insurance contract is determined by a claim report established by a claim adjuster after visiting the damaged area.
In case the traditional hail insurance would not be available or would not be adequate, it would be possible, for large growers or for growers union, to set up a non traditional hail insurance contract, with automatic payout based on connected weather sensors.
PARAMETRIC INSURANCE WIND AND OTHER PERILS
Parametric insurance provide you with new tools to protect against weather risks, to be used as stand alone insurance or as a complement of a traditional insurance contract.
Key strengths :
Payout automatically triggered, without on-site claim adjustment process
Possibility to insure only part of the crops and part of the surfaces
Suited to conventional as well as to organic farming
Cover can be purchased up to 15 days before the start of the risk period
Very attractive pricing for large deals (competition between several insurance companies)
Personalized and expert insurance advice to fine tune the parameters of the cover and to get a good understanding of the payout mechanism.
Possibility to get subsidy from the EU in the case of group insurance contract set up by growers union (operational programmes)
WEATHER / WIND [CYCLONE, HURRICANE, TYPHOON]
Strong winds can severely damage to fruits and flowers resulting in significant financial losses for growers. Thanks to the strong wind cover, it is possible to automatically trigger compensation when wind speed exceeds certain critical thresholds.
WEATHER / EXCESS HEAT
Excess heat can lead to reduce yield (plant growth rapidly decrease when temperature goes above 32°C) and sunburns especially when it occurs in a situation of prolonged drought. Thanks to the excess heat cover, it is possible to automatically trigger compensation when temperatures rise above certain critical thresholds.
WEATHER / EXCESS RAIN - FLOODING
Excessive soil moisture could entail physiological disorders on pineapple plants and could favor damaging pests and diseases. Moreover, high soil moisture lead to reduced quality and keepability. Moreover, excess water can reduce the growth and yield, especially when it occurs at root initiation and at fruit filling. Thanks to a parametric excess rain cover, it is possible to automatically trigger compensation when the deviation of cumulative rainfall from normal level falls below certain critical thresholds.
WEATHER / DROUGHT
Though pineapple is very tolerant to drought, growth and yield are reduced when prolonged rainfall deficit occurs for non irrigated crops. Thanks to drought cover, it is possible to automatically trigger compensation when the variation in cumulative rainfall from normal falls below certain critical thresholds.
WEATHER / LOW TEMPERATURE
Pineapple plant growth decreases rapidly at mean daily temperature below 15°C. To compensate for reduced yields, a low temperature cover can be put in place, so as to automatically trigger compensation if the temperature drops below certain pre-defined thresholds.