Insurance Archives - Page 2 of 5

File photo of sunset over port facilities at Odesa. (Mixarde/iStock/Getty Images)

Ukraine announces ‘humanitarian corridor’ for other stuck ships

Moscow not yet commenting on plan

By GFM Network News August 11, 2023

Kyiv | Reuters — Ukraine announced a “humanitarian corridor” in the Black Sea on Thursday to release cargo ships trapped in its ports since the outbreak of war, a new test of Russia’s de facto blockade since Moscow abandoned a deal last month to let Kyiv export grain. At least initially, the corridor would apply […] Read more

Liberia-flagged bulker K Sukret, carrying grain under the Black Sea Grain Initiative, waits for inspection in the southern anchorage of Istanbul on May 17, 2023. (Photo: Reuters/Mehmet Emin Caliskan)

Crops, Markets, Reuters

Insurers seen reviewing Black Sea ship cover after Russia quits deal

Last ship covered under deal left Sunday

By GFM Network News July 17, 2023

London | Reuters — Insurers are reviewing whether to freeze cover for any ships willing to sail to Ukraine after Russia on Monday quit a UN-backed deal that allows the export of grain through a wartime Black Sea safe corridor, industry sources said. The agreement, brokered by Turkey last July, aimed to alleviate a global […] Read more

Commercial vessels –including vessels which are part of the Black Sea grain deal — wait to pass the Bosphorus strait off the shores of Yenikapi during a misty morning in Istanbul, Turkey on Oct. 31, 2022. (Photo: Reuters/Umit Bektas)

Crops, Reuters

Insurers covering Ukraine grain corridor shipments for now

More clarity needed soon, Lloyd's exec says

By GFM Network News March 24, 2023

London | Reuters — Insurers continue to cover grain shipments from Ukraine through a United Nations-backed corridor although more clarity will be required soon, a senior Lloyd’s of London official said on Thursday, after the export accord was renewed for at least 60 days. The deal allowing the safe wartime export of Ukrainian grain from […] Read more

A composite satellite view of Hurricane Fiona nearing Nova Scotia at about 6 p.m. local time on Sept. 23, 2022. (U.S. National Hurricane Center image, NOAA.gov)

General, Machinery, Weather

Nova Scotia to bridge Fiona funding gap for farmers

Provincial program offering up to $400K per farm

By Dave Bedard, GFM Network News February 25, 2023

Nova Scotia farmers who didn’t qualify for federal disaster financial assistance (DFA) in the wake of Hurricane Fiona last September may be able to get in on a new provincial program instead. The province on Thursday announced $3 million for what it calls the Fiona Agriculture Response Gap Funding program, offering up to $400,000 for […] Read more

Kristjan Hebert says rather than focusing on how much they’re willing to spend on ag insurance premiums, farmers would be better off considering how much money they’re prepared to lose.

Wheat & Chaff

Halsall: Aim for the home run ball

By Mark Halsall December 30, 2022

Every year, farmers play a high-stakes game against Mother Nature and all of the other in-season perils, betting their fields will yield a bounty of profitable crops come harvest. It’s risky, of course, which is why crop insurance is such a vital aspect of risk management for many western Canadian producers. But is crop insurance […] Read more

File photo of barley being loaded for export at the Black Sea port of Mykolaiv, Ukraine on July 9, 2013. (Photo: Reuters/Vincent Mundy)

Crops, Reuters

Ship insurers to cancel war cover for Russia, Ukraine from Jan. 1

By GFM Network News December 29, 2022

London | Reuters — Ship insurers said they are cancelling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses. Reinsurers, who insure the insurers, typically renew their 12-month contracts with insurance clients on Jan. 1, giving them the first opportunity to scale […] Read more

Wrecked structures float in the water in the aftermath of Hurricane Fiona at Rose Blanche, N.L., about 45 km east of Port aux Basques, on Sept. 25, 2022. (Photo: Reuters/John Morris)

General, Reuters, Weather

After Fiona, climate experts urge Canada to fix flagship adaptation strategy

By GFM Network News September 28, 2022

Reuters — Canada’s first national climate adaptation strategy needs to be improved to include near-term targets and specific solutions ahead of its November release to mitigate worsening global warming impacts, experts advising the government told Reuters in the wake of devastation caused by storm Fiona. Fiona, one of the worst storms to ever hit Canada, […] Read more

Grain storage at a Russian seaport. (Pridannikov/iStock/Getty Images)

Crops, Markets, Reuters

London marine insurers label all Russian waters high risk

By GFM Network News April 5, 2022

London | Reuters — London’s marine insurance market on Monday added all of Russia’s waters to its list of areas deemed high risk, an advisory showed, which is likely to raise the cost of shipping and adds to the logistical pressures on Moscow. Guidance from the Joint War Committee, which comprises syndicate members from the […] Read more

File photo of a canola crop south of Ethelton, Sask. in 2019. (Dave Bedard photo)

Canola, Crops, Weather

Nexera canola seed to come with heat blast insurance

Corteva's 'Heat Advantage' provides coverage on seed purchased by Oct. 29

By Allan Dawson, GFM Network News September 2, 2021

Farmers can’t prevent canola flowers from aborting in hot weather resulting in lower yields, but one seed company is providing some insurance against it — as part of the price of the seed. Brevant’s Nexera canola seed comes with a “a first-of-its-kind” insurance policy worth up to $100 an acre to offset yield losses due […] Read more

Manitoba Beef Producers president Tyler Fulton speaks in Winnipeg on July 22, 2021 at a federal/provincial announcement including planned changes to crop insurance against this summer’s drought, alongside federal Agriculture Minister Marie-Claude Bibeau and Winnipeg MP Kevin Lamoureux (r). (Dave Bedard photo)

Crops, Hay, Weather

Manitoba triggers hay disaster benefit

Per-tonne rate lifted to cover feed, transport costs

By Dave Bedard, GFM Network News July 23, 2021

Manitoba’s crop insurance agency is set to lift the per-tonne rate paid out on insured forage crops to help cover livestock producers’ bills to buy and truck in replacement feed. Manitoba Agricultural Services Corp. (MASC) on Thursday announced a 2021 hay disaster benefit to provide another $44 per tonne, for every tonne below coverage, to […] Read more

Daily Network News

‘We should always aim for free trade’: low tariffs not good enough say agriculture leaders on Hoekstra remarks

CBOT weekly outlook: Soybeans/corn awaiting acreage data

ICE Canada Weekly: More behind canola, soyoil than crude oil prices

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