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Crop Loss Fears Lift Agricultural Insurance Take-Up: Swiss Re

Farmers have spent 20 percent more on agricultural insurance in recent years to protect against crop losses from increasingly frequent bad weather events, according to reinsurer Swiss Re.

By Sarah Mortimer, Reuters | Updated on January 16, 2013

LONDON (Reuters) – Farmers have spent 20 percent more on agricultural insurance in recent years to protect against crop losses from increasingly frequent bad weather events, according to reinsurer Swiss Re.

The rise in extreme weather disasters, such as the widespread drought in the United States last year, has reduced food output at a time when the world’s population is expected to grow by a third by 2050, the world’s second biggest reinsurer said in a report on Wednesday.

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