Swiss Re says it still aims to develop a crop insurance product for the WA market.

“Our Zurich-based team is waiting for data on WA conditions, so it is a work in progress,” a spokesman told insuranceNEWS.com.au.

Allianz has already entered the local crop cover market, backing a multi-peril product launched by Latevo International.

According to Latevo’s website, it will sell three products this year.

Its Foundation product covers base revenue against catastrophes such as drought and extreme frost; the Certainty product covers less severe events such as flooding and dry seasons; and Certainty Plus is for growers looking to stabilise revenue generation.

In 2011 grain growers’ co-operative CBH Group offered WA crop insurance in partnership with Willis. Earlier this year Swiss Re confirmed it was talking to the co-operative, but no further details have emerged.

Last year a report by the National Rural Advisory Council questioned the viability of traditional multi-peril crop insurance.

The council says the cover is hampered by the volatility of Australian agriculture and climate and the shortage of data to underpin insurance.

It says without government support, the products are not commercially viable.