What is the background of Santam Crop Insurance?
Crop insurance in South Africa started in 1929 when a group of farmers in the eastern Free State formed a pool scheme to insure themselves against hail damage.
The scheme has taken many forms since then, leading to the founding of Sentraoes in 1970. Commercial Union Agricultural Services entered the market shortly thereafter, and the two merged in 2000 to form Agri Risk Specialists, which was underwritten by Santam.
Santam bought out the other shareholders in 2003 and rebranded the business unit as Santam Agriculture in 2007.
How competitive is the crop insurance market?
Santam Agriculture is one of six crop insurers in the country and has a market share of more than 50%. One of our greatest competitive advantages is that we have more than 90 years’ experience in crop insurance and have data going back to when crop insurance was launched in South Africa.
How has the need for crop insurance changed over the years?
It’s difficult to quantify the number of farmers who buy crop insurance, as this fluctuates due to the arrival of new farmers, but also because of small farms being bought out by larger farmers. We therefore look at the areas covered by crop insurance in relation to the areas planted to determine take-up. This has remained relatively stable at about 40% for many years.
What are the reasons for this?
Farmers have a wide choice of how to diversify their risks and manage their risk management costs.
هذه القصة مأخوذة من طبعة March 19, 2021 من Farmer's Weekly.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة March 19, 2021 من Farmer's Weekly.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Review: the Toyota Hilux 2.8GD-6 DC 4×4 GR-Sport III
The third iteration of the Hilux GR-Sport has finally achieved a sense of presence and style befitting its raceinspired branding. But is this the ultimate modern Hilux? Car Magazine takes a closer look.
Why maize prices soar in Kenya and Malawi but not Tanzania
Namhla Landani, an economist at the Centre for Competition, Regulation and Economic Development, University of Johannesburg, and Arthur Khomotso Mahuma, economist and researcher at the Centre for Competition, Regulation and Economic Development, University of Johannesburg, analyse the issue.
Wet carcass syndrome: a scourge in SA sheep farming
Wet carcass syndrome continues to take a huge financial toll on South African sheep farmers. Octavia Avesca Spandiel spoke to two experts about the ongoing genetic research aimed at addressing this issue.
Pollination innovation
Bee-Tech Group is transforming South African agriculture with pollination technologies that boost crop yields and enhance sustainability. Founder Michiel Bruggeman spoke to Octavia Avesca Spandiel.
The valuable addition that makes this farm tick
Owning the value chain provides farmers with far more control over their produce. However, it requires a fine balance between production and ensuring there is a strong and steady market. Lindi Botha visited Rosemary Hill to find out how this essential oil producer leverages hospitality to make the farm viable.
The benefits of recirculating aquaculture systems
A powerful set of attributes has established recirculating aquaculture systems as a cornerstone of global temperate fish farming, writes Leslie Ter Morshuizen, owner of Aquaculture Solutions.
Minister has big plans for emerging and commercial farmers
DA leader and Minister of Agriculture John Steenhuisen spoke to Glenneis Kriel about his priorities for his department over the next five years, including an increased focus on biosecurity.
New study aims to make wheat more disease resistant
A recent international study explains how bread wheat has helped to transform the ancient world on its path to becoming the iconic crop that today helps sustain a global population of eight billion.
Conservation farming and biodiversity boost soil health and sustainability
A recent academic event focused on research into the links between soil biodiversity, soil health and sustainable agriculture
What has led to the unparalleled rice shortage in Japan?
Japan is facing a rice shortage amid concerns about a potential 'megaquake', several typhoons and an annual week-long holiday, which has led to an increase in panic buying.
