December 16, 2016

Breaking News

Swiss insurer looks into coverage for agricultural sector

Vendors sell vegetables and fruits at a bazaar in Tatkon market.
Vendors sell vegetables and fruits at a bazaar in Tatkon market.

Representatives of the Myanmar Rice Federation and Swiss Re Corporate Solutions Ltd met here Wednesday to discuss the introduction of agricultural insurance to the country.
Vice President and Senior Originator at Swiss Re Jeffrey Khoo said the company aimed to arrange insurance for farmers and millers.
MRF Secretary U Ye Min Aung welcomed input from an international firm, but warned that weather data could be hard to obtain, citing instances of incorrect data being collected in four townships.
“Insurance for crops won’t be an easy task,” he noted.
In Myanmar, about 400,000 acres of farmland are submerged by floods each year.
The country’s insurance law will require foreign firms to buy insurance coverage from the Myanmar Insurance Enterprise.

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