Insuring to ensure a future for agriculture

By Allan Dingle, Queensland Farmers' Federation President
Updated November 20 2019 - 10:57am, first published 10:32am
Insuring to ensure a future for agriculture
Insuring to ensure a future for agriculture

When it comes to extreme weather events in Queensland, it's not a matter of if, but when. With destructive bushfires burning, cyclone season well under way and a protracted drought continuing across the state, farmers can never be too prepared. But a recent report by global brokerage firm Gallagher has predicted that it will become more challenging for farmers to take out crop insurance, as lenders deem the sector 'too risky'. A probable increase of premiums and gaps in the market leading to growers who either can't access cover or can only access limited cover for their crops, means that underinsurance will likely be unavoidable.

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