Download the full text of summary – Sigma No. 1/2007, PDF file (78 kB) Emerging market growth remains on track Emerging market economies continued their strong growth in 2005, despite rising global interest rates and commodity prices. According to Swiss Re’s latest sigma study, “Insurance in emerging markets”, both life and non-life insurance premiums […]
This document focuses on innovation in weather insurance designed to fit the special circumstances of lower-income countries where rural and agricultural financial markets are largely underdeveloped. Weather insurance is important to the long-term economic development of lower-income countries as a means of spurring rural finance and agricultural and rural development. Weather insurance can also help alleviate chronic poverty. The lack of access to weather insurance can cause rural and farm households in lower-income countries to consume their assets to survive an extreme weather event or their assets may be destroyed, throwing these households into a cycle of poverty with no means of recovery. To be clear, the lack of weather insurance may be only one of several constraints that are slowing progress in economic development and rural financial markets in lower-income countries.
The presentation was prepared for the meeting of the agricultural committee of the League of Insurance Organizations of Ukraine. The meeting took place on February 6, 2007. The presentation provides an overview of statistics available in different countries and takes a closer view at problems of Ukrainian agricultural insurance sector. The presentation will be interesting to the insurance specialists from the countries that currently develop agricultural insurance systems. The presentation provides an overview of the statistics available in the USA, Italy, Canada, Russia, Kazakhstan and other countries.
The purpose of this publication is to meet the demand for a brief, accessible introduction to the role of insurance as a risk management mechanism in livestock and aquaculture enterprises. With the focus of the publication being on enterprises in developing countries, most attention is given to livestock (especially cattle, sheep, goats, poultry) kept for food and/or fibre, and transport/motive power, rather than bloodstock used for sporting and recreational purposes.
Government of Republic of Kazakhstan According to the Ministry of Agriculture of Kazakhstan in 2006 insurance companies signed 12 850 crop insurance contracts for the total area of 9295,3 thousand hectares. This constitutes 62,4% of the total cultivated area (14885,0 thousand hectares). All these contract were concluded according to the terms of the government program […]
Experience to date indicates that it is extremely difficult, without massive government subsidies, to insure farm level crop yields from losses caused by any number of natural perils. Those who seek effective, agricultural risk management tools, offered with little or no government subsidy, need to understand the underlying problems with farm level, multiple peril crop insurance. This chapter begins by discussing those problems. The following section presents an alternative form of insurance that makes payments based not on measures of individual farm yields, but rather on either area yields or some weather event like temperature or rainfall.
Linking the use of risk-shifting innovations that are being tried around the world directly to rural finance has been largely missing. This paper builds a set of recommendations for using index insurance and, in some cases, futures markets in combination with rural finance. The intent is for the MFE to have the opportunity to purchase index insurance and put options to protect against the correlated risk of crop disaster, livestock deaths due to natural disasters, and commodity price declines. The indemnity payments can be used by the small local banking interest.
Managing Agricultural Production Risk – Innovations in Developing Countries World Bank – Ulrich Hess, Jerry Skees, Andrea Stoppa, Barry Barnett, John Nash Progress is being made in creating risk transfer markets for weather events in developing and emerging economies. While this document introduces several sources of risk that create poverty traps for poor households and […]
Agricultural Insurance Revisited: New Developments and Perspectives in Latin America and the Caribbean Mark Wenner, Rural Development Unit, Inter-American Development Bank Agriculture is an inherently risky business. It is subject to a number of random price, climatic, biological, and geological shocks that require coping strategies and financial management instruments to deal with the implications. Traditional […]
The Potential of Crop Insurance as a Risk Management Instrument in Kazakhstan Olaf Heidelbach and Ruashan Bokusheva, Institut für Agrarentwicklung in Mittel- und Osteuropa (IAMO) As in most of the transition countries, a larger proportion of the population of Kazakhstan lives in rural communities compared with Western Europe, and employment in agricultural production represents an […]
Recent Agricultural Policy Reforms in North America, ERS, USDA, April 2005 Steven Zahniser, Ed Young, and John Wainio, ERS, USDA The United States, Mexico, and Canada have each made significant changes to their agricultural policies over the past several years. In the area of income supports, each country has instituted a countercyclical program that provides […]
The impact of crop insurance subsidies on land allocation and production in Spain Alberto Garrido, Associate Professor, María Bielza, Research Assistant, and José M. Sumpsi, Professor, of the Departamento de Economía y Ciencias Sociales Agrarias, of the Universidad Politecnica de Madrid, Spain The main policy conclusion of this study is that yield insurance subsidies do […]
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