NESP TWQ Round 3 - Project 3.1.8 - Innovative economic levers: a system for underwriting risk of practice change in canefarming
This project will enable reduced DIN exports from cane lands by developing and promoting a tested framework for commercial insurance businesses to underwrite risk of nitrogen practice change in sugarcane farming. We will work with insurance, other relevant businesses and, potentially, government to determine the methods and precision for assessing risk. We will then develop, in collaboration with insurance businesses, the sugarcane industry and government stakeholders, a technically sound and robust system where the negative impact of practice change on cane yield is distinguished from the year-to-year yield variability. We will pilot (and improve) this system with collaborating farmers, mills insurance businesses and, potentially, government in the wet tropics so that the framework can be operationalised by insurance businesses.