Inter-American Institute for Cooperation on Agriculture

Agricultural insurance

IICA Convenes International Experts at the ‘Second Annual Symposium for Facilitating the Development of Agriculture Insurance in the Americas’

Tiempo de lectura: 3 mins.

“Agricultural insurance is a fundamental risk management tool for achieving food security”, David C. Hatch, IICA.

Washington, DC, February 17, 2011 The Inter-American Institute for Cooperation on Agriculture (IICA) hosted its ‘Second Annual Symposium for Facilitating the Development of Agriculture Insurance in the Americas.’ Convened at the Organization of American States (OAS), the event assembled international experts in risk management from the public and private sectors, to review the state of agriculture insurance in the hemisphere, regionally and by country; share successes and challenges; understand each participating organizations priorities, plans and programs and determine what subsequent steps can be taken to continue dialogue with a focus on concrete results.

Included were representatives from the Financière Agricole de Québec Développement International (FADQDI); Food and Agriculture Organization (FAO); IFC Global Financial Markets; the Inter-American Development Bank (IADB); the Inter-American Federation of Insurance Companies (FIDES); the Latin American Association for the Development of Agricultural Insurance (ALASA); the United States Agency for International Aid (USAID) and the World Bank (WB).

International experts in risk management convene for the ‘SecondAnnual Symposium for Facilitating the Development of Agriculture Insurance in the Americas,’ in Washington DC.

Chaired by IICA’s Representative in the United States, David C. Hatch, the one day working session focused on the development of adequate agricultural insurance schemes and products in Latin America and the Caribbean within a broader risk management framework.

“We recognize that governments must take the lead in creating an environment and infrastructure that will sustain the development of agriculture insurance over decades,” said Hatch, as he opened the working session. “However, there must be concerted effort which also includes the private sector insurance and reinsurance communities as well as the farming community.”

Unlike Europe, the United States and many parts of Asia, insurance is not a widely available and purchased product in Latin America and the Caribbean. In 2005, the Inter-American Board of Agriculture (IABA) instructed the Institute to work closely with governments to promote agriculture insurance in the Western Hemisphere. Since then, IICA has been a leader in the field through consultations with various Ministries, speaking at regional and global events, facilitating dialogue among practitioners and developing distance learning courses.

“Farmers assume a tremendous amount of risk,” explained Serge Pare, Trustee and Chief Executive Officer, FADQUI. “They must be able to establish confidence in what they do and a sense of trust with the organizations they work with.”

The global food crisis experienced in 2007-2008 reminds us of the critical need for stable and thriving agriculture sectors. ‘Renewed focus on agriculture in developing countries in LAC is critical for the achievement of meaningful results in food security as well as poverty and hunger reduction,” concluded Hatch.

For more information, contact 
alondon@iicawash.org
dhatch@iicawash.org

Share

Related news​

En el diálogo el Director General del IICA, Manuel Otero, instó a las personas jóvenes a ser agentes de cambio, jerarquizar la agricultura y fortalecer la autoestima del sector agropecuario, por su rol clave para el desarrollo sostenible de los países de la región.

San José, Costa Rica

October 24, 2025

Youth are key to driving the transformation of agriculture across the hemisphere, says IICA Director General at a meeting with participants of the AgriTalent Program of the Americas

Manuel Otero emphasized the need to promote a new narrative for regional agriculture—one that elevates its standing and recognizes its contribution to the food security of the countries.

Tiempo de lectura: 3mins

El Presidente chileno, Gabriel Boric, durante la X Semana de la Energía que transcurrió en Santiago.

Santiago

October 23, 2025

IICA and the CPBIO highlight the strategic role of agriculture and biofuels at the Tenth Energy Week in Chile

Organized by the Latin American Energy Organization (OLADE), the participants in the event included His Excellency the President of Chile, Gabriel Boric. The discussions focused on the technical, economic and regulatory challenges involved in accelerating the decarbonization of transportation in the Americas, especially in the aviation sector.

Tiempo de lectura: 3mins

Diapositiva con el título ‘Conclusiones clave’ a la izquierda y cuatro mensajes en recuadros de colores: ‘SAIA moderno = sistema agroalimentario resiliente’, ‘Cooperación público-privada es clave’, ‘Tecnología transforma la gestión sanitaria’ e ‘Invertir hoy asegura el futuro’. A la derecha, dos personas en traje formal sentadas en entornos profesionales.

San José, Costa Rica

October 23, 2025

IICA presents the updated PVS, a key tool to strengthen countries’ agricultural health services and ensure safe food trade

The Inter-American Institute for Cooperation on Agriculture (IICA) has unveiled the updated version of a key tool designed to modernize and strengthen agricultural health and food safety services across the Americas—an initiative aimed at safeguarding the region’s sanitary and phytosanitary status, ensuring safe food trade, protecting public health, preventing economic losses and driving rural development.

Tiempo de lectura: 3mins