Crop insurance mechanism offers hedge against drought
As a record number of US farmers reportedly prepare to give up
on their 2012 crop, fears are growing that insurers and reinsurers
that write multi-peril crop insurance (MPCI) are set for a surge in
claims that could match those seen in the worst-ever loss years for
the business.
The prospect has already led some investors to openly talk about
shorting stocks of leading direct and reinsurance crop writers such
as Ace, Endurance, American Financial, PartnerRe and XL.
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