Study to assess the commercial viability of agricultural insurance following catastrophic events

Descriptions

Please note, this is a speculative notice in order to test the market's appetite for such a requirement.The nature of agriculture in Wales is such that businesses are vulnerable to significant adverse impacts arising from natural disasters, severe climatic events, such as flooding and heavy rains of 2012 and the late snows and freezing temperatures of spring 2013. The ‘Independent Review into the Resilience of Farming in Wales’ (the ‘Kevin Roberts report’) was commissioned in direct response to the weather event in 2013 and identified a range of actions that are considered most likely to help the industry prevent and/or mitigate the impact of such events. In line with the recommendations of that report one area which was agreed should be pursued was the use of mutual funds.There is an opportunity under the new Rural Development Programme to mobilise certain measures to provide support to farmers.To enable this to be progressed there are a number of outstanding issues that require clarification. Currently, there are no insurance providers that have the required “offer” in their portfolios because it is deemed as extremely difficult to assess the level of risk.Therefore we are looking for an organisation to undertake a feasibility study to assess the commercial viability of insurance to redeem agricultural production following an extreme and/or catastrophic event.NOTE: To register your interest in this notice and obtain any additional information please visit the Sell2Wales Web Site at http://www.sell2wales.gov.uk/Search/Search_Switch.aspx?ID=22656.