Scientific and Economic Rationale for Weather Risk Insurance for Agriculture.

Munich Re is one of the largest global reinsurers and has a long tradition in both the assessment of weather-related hazards and their impact on crop production and the development of appropriate risk management tools and crop insurance schemes. Munich Re's underwriting of agricultural risks throughout the world is concentrated in its agricultural underwriting department. This department has long been a world-renowned centre of competence. It develops Munich Re's strategy and underwriting guidelines and is responsible for the underwriting of agricultural insurance within the Munich Re Group. This involves a wide range of segments like crops, crop hail, multi-peril and named perils, livestock including aquaculture and greenhouses. With a premium income of about €400m in 2006, Munich Re is the world's largest agricultural reinsurer. [ABSTRACT FROM AUTHOR]