Abstract
Starting in 2012 and continuing for several years since, I have been witness to a burst of innovation in the seemingly staid world of crop insurance, which is too often dismissed as an obscure backwater of the U.S. insurance industry. 2012 was the year that Hudson Insurance Group teamed up with leading crop insurance agency Silveus Insurance Group and economic consulting firm Watts and Associates to introduce a new supplemental crop insurance product called Price-Flex®. As chief risk officer of Odyssey Re, Hudson’s parent, I was called upon to vet the pricing engine that had been developed by Watts; and thus began a collaboration with Watts, which has expanded to include innovative loss ratio hedging, that continues through today.
Keywords: Crop insurance, Risk management
Volume
Summer
Page
1-5
Year
2016
Categories
Business Areas
Crop-Hail
Actuarial Applications and Methodologies
Enterprise Risk Management
Publications
Casualty Actuarial Society E-Forum
