A report from Moody's says there are significant barriers to entry in the crop-insurance market, and cuts in government subsidies could mean even more consolidation in the future.
Moody's says that since the 1990s there has been a steady wave of consolidation in the crop-insurance line. In the 1980s there were 60 authorized multi-peril crop insurers. That figure has been reduced to 16 today.
The top five insurers account for close to 65 percent of direct premium written, and the top 10 for nearly 90 percent.
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