Kazakhstan : Agricultural Insurance Feasibility Study, Volume 1. Main Report
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Washington, DC
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Agriculture is a very important
socioeconomic sector in Kazakhstan. The Government of the
Republic of Kazakhstan (GRK) introduced a national
compulsory crop insurance scheme in 2005 in order to provide
grain producers and other farmers with a minimum level of
protection against catastrophic climatic events. The overall
objective of the current study is to assist the GRK in
improving the existing mandatory crop insurance program. The
study aims to identify sustainable market-based alternatives
to the current crop insurance system in Kazakhstan. In this
regard, all of the options for improving the current system
that were developed under this study are market based and
take into account global experience and the best insurance
and reinsurance industry practices for agricultural
insurance. The study follows the principles established in
the agriculture risk management framework developed by the
World Bank. The study focuses mainly on spring wheat crop
production in the principal growing regions of Kazakhstan.
The study is set out in six chapters. Chapter one gives
introduction and objectives of the study. Chapter two
presents an overview of agricultural production systems and
markets in Kazakhstan, followed by an assessment of the
climatic hazards and other risks affecting spring wheat in
the country s main crop areas. Chapter three reviews the
structure and performance of the current mandatory crop
insurance system in Kazakhstan and identifies a series of
institutional, operational, technical, and financial
drawbacks of the current system. Chapter four presents a
phased strategy and a series of options and recommendations
for the GRK to consider for the introduction of market based
solutions that aim to strengthen the current scheme. Chapter
five explores the opportunities for developing new crop
insurance products in Kazakhstan, including prefeasibility
analyses for area-yield index insurance (AYII), weather
index insurance (WII), and named-peril hail insurance for
selected rayons. Finally, chapter six deals with the
challenges of tailoring crop insurance to the needs of
lower-income smaller farmers.
Palabras clave
ACTUAL YIELDS, AGENTS, AGRIBUSINESS, AGRICULTURAL ACTIVITIES, AGRICULTURAL CROP PRODUCTION, AGRICULTURAL INSURANCE, AGRICULTURAL INSURANCE SCHEME, AGRICULTURAL INSURANCE SCHEMES, AGRICULTURAL INSURANCE SYSTEM, AGRICULTURAL PRODUCERS, AGRICULTURAL PRODUCTS, AGRICULTURAL RISK, AGRICULTURE, AGRICULTURE SECTOR, ALLOCATION, ANNUAL CROPS, AQUACULTURE, AVERAGE ANNUAL RAINFALL, AVERAGE YIELDS, BASIS RISK, CAPITAL REQUIREMENTS, CAPS, CATASTROPHE REINSURANCE, CATASTROPHE RISK FINANCING, CEREALS, CLIMATE, CLIMATIC CONDITIONS, COINSURANCE, COMMERCIAL FARMERS, COMMERCIAL INSURANCE, COMMODITY, COMPENSATION, COMPULSORY INSURANCE, COOPERATIVES, COST OF REINSURANCE, COTTON, COVERAGE, CROP, CROP AREA, CROP DAMAGE, CROP FAILURE, CROP HUSBANDRY, CROP INSURANCE, CROP INSURANCE PREMIUM, CROP INSURANCE PRODUCT, CROP INSURANCE PROGRAM, CROP INSURANCE SCHEME, CROP LOSS, CROP LOSSES, CROP OUTPUT, CROP PRODUCTION, CROP PRODUCTION SYSTEMS, CROP RISK, CROP SEASON, CROP YIELD, CROP YIELDS, CROPS, DISASTERS, ECONOMIC GROWTH, ECONOMIC THEORY, EXCESS OF LOSS REINSURANCE, EXCHANGE RATE, EXTREME DROUGHT, FAMILY FARMS, FARM, FARMER, FARMER ASSOCIATIONS, FARMS, FEASIBILITY, FIELD CROPS, FINANCIAL CHALLENGES, FINANCIAL CONTRIBUTIONS, FINANCIAL DATA, FINANCIAL INSTITUTIONS, FINANCIAL LOSS, FINANCIAL PERFORMANCE, FINANCIAL SUPPORT, FISHERIES, FOOD CROPS, FOOD SECURITY, FRUIT CROPS, GRAIN, GRAIN CROPS, GRAIN FARMING, GRAINS, GRAZING, GROUP INSURANCE, GROWING SEASON, HORTICULTURAL CROPS, HUSBANDRY, INCOME, INDEMNITY, INNOVATION, INSPECTIONS, INSURANCE ASSOCIATIONS, INSURANCE CLAIMS, INSURANCE COMPANY, INSURANCE CONTRACT, INSURANCE COVER, INSURANCE INDUSTRY, INSURANCE MARKET, INSURANCE POLICIES, INSURANCE POLICY, INSURANCE POOLS, INSURANCE PREMIUM RATES, INSURANCE PREMIUMS, INSURANCE PRODUCT, INSURANCE PRODUCTS, INSURANCE REGULATOR, INSURANCE RESERVES, INSURANCE SECTOR, INSURANCE SYSTEM, INSURERS, INTERNATIONAL REINSURANCE, LABOR FORCE, LAYERING, LEVEL PLAYING FIELD, LIFE INSURANCE COMPANIES, LIVESTOCK GRAZING, LIVESTOCK INSURANCE, LOSS RATIO, MARGINAL FARMERS, MEAT, MORAL HAZARD, MUTUAL INSURANCE COMPANIES, NON-LIFE INSURANCE, NONPROPORTIONAL REINSURANCE, OILSEED CROPS, OILSEEDS, POLICY MAKERS, POLICYHOLDERS, POOR FARMERS, PORTFOLIO, PRELIMINARY ESTIMATES, PRIVATE INSURANCE, PRIVATE INSURANCE COMPANIES, PRODUCTION COSTS, PRODUCTION SYSTEMS, PROGRAMS, PROPORTIONAL REINSURANCE, REGULATORY FRAMEWORK, REINSURANCE, REINSURANCE AGREEMENT, REINSURANCE MARKETS, REINSURERS, RISK ASSESSMENT, RISK MANAGEMENT, RISK TRANSFER, SALVAGE, SAVINGS, SCENARIOS, SEED, SINGLE CROP, SMALL FARMER, SMALL FARMERS, SOILS, SOLVENCY, SOLVENCY REQUIREMENTS, SOWING, SPRING, SPRING WHEAT, TOTAL COST, TRANSACTION COSTS, UNCERTAINTIES, UNDERWRITING, UNDERWRITING STANDARDS, VEGETATION, YIELD LOSS, YIELDS