BeeFarmer, there is a detailed article on beekeeping insurance in this month's issue of Bee Culture magazine, Oct. 2018. It is entitled
A Sweet Opportunity For Business Growth by Todd Harris. The article gives a link, for more info on Rainfall Index Apiculture,
ProAg.com/Apiculture. I briefly looked at this website and the information seemed very similar to the article.
A possible catch? Probably so. Mostly the government will know what you have, where it is at, and how much. This could be ground work for future taxation. I don't want to sound like a conspiracy theorist or that I don't think I should pay taxes.
Just being realistic.
As I am a hobbyist beekeeper, I am willing to assume any loss of honey crop due to insufficient rainfall.