Global Food Prices Rises as Crop Insurance Gaps Widen

Global #food#prices soaring by 41% in May 2021 and 34% in March 2022, primarily driven by #supply shocks, a recent report highlights that, despite global progress in #crop resilience, approximately 60% of insurable crops remained unprotected by #insurance in 2022. This protection gap is estimated at a staggering USD 113 billion globally in premium equivalent terms.

Sources: Swiss Re Institute & SRI Crop Insurance Resilience Index