Does a swarm of locusts attacking agricultural land count as an act of god for the insurance industry? Just curious what motivation farmers have to defend against such things.
Interesting question but to my mind..absolutely not!
Well for an agricultural land, if THAT is an act of God, what exactly is it, apart from this, that we are protecting the land against?
Generally an all-in-insurance covers the risk of miscreants say setting fire to the land or damaging the crop or say floods or excessive rains. To my mind, an insurance is meant to cover events just like that and hence locuts swarming the land should be covered under the circumstances in which the insurance can be called to replace lost cash flows.