Talk to us about your Agribusiness
There is a range of well-publicised challenges facing the agriculture sector in Australia. The challenges of climate change and ongoing drought conditions alone bring about property damage, the loss of crops and livestock, and increased costs for water, feed and other production expenses.
In response, the sector is introducing new technology to create more efficient and sustainable farming practices. Internet of Things technology, improved data collection and analysis, and renewable energy sources are gradually changing farming practices. These innovations are changing the risk exposure of agribusinesses.
The limited number of insurers servicing the insurance needs of the sector is an additional challenge, with costly policies offering limited coverage where it’s needed most.