Demand for rainfall-index based insurance: a case study from Morocco

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dc.creatorMcCarthy, Nancy
dc.date2003
dc.date2024-10-24T12:53:48Z
dc.date2024-10-24T12:53:48Z
dc.date.accessioned2026-06-27T15:07:40Z
dc.descriptionIn this paper, we derive estimates for willingness to pay for rainfall-index based insurance contracts. Surveys were undertaken in four regions in Morocco, representing different mean and variability of rainfall conditions. Results indicate that respondents in the high variability regions preferred contracts that paid out more often (had higher rainfall trigger levels), and which were more costly. In fact, a strong majority of respondents indicated they would purchase these contracts at the fair-value price; the estimated median willingness to pay for such contracts was between 12-20 percent above the fair value contract. However, in the lower rainfall variability regions, the cheaper contracts with lower trigger values were the only contracts for which the estimated median willingness to pay was greater than the fair-value of the contract. Finally, estimated coefficients for explanatory variables such as human and physical assets, debt levels, etc. did not have consistent impacts, either across or within regions.
dc.formatapplication/pdf
dc.identifierhttps://hdl.handle.net/10568/158095
dc.identifier.urihttp://hdl.handle.net/123456789/95350
dc.languageen
dc.publisherInternational Food Policy Research Institute
dc.rightsOpen Access
dc.sourceMcCarthy, Nancy. 2003. Demand for rainfall-index based insurance: a case study from Morocco. EPTD Discussion Paper 106. https://hdl.handle.net/10568/158095
dc.subjectagricultural insurance
dc.subjectrainfall
dc.subjectconsumer behaviour
dc.subjectdry farming
dc.titleDemand for rainfall-index based insurance: a case study from Morocco
dc.typeWorking Paper

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Instituto Internacional de Investigación sobre Políticas Alimentarias (IFPRI)