Kenya Toward a National Crop and Livestock Insurance Program
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World Bank, Washington, DC
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At the request of the government of
Kenya and under its guidance, a team of national and
international experts conducted an appraisal of different
agricultural insurance options for Kenya.This appraisal, as
set out in this document and the accompanying technical
analysis, lays out the costs and benefits of developing
large-scale agricultural insurance that involves both the
public and private spheres.The analysis considers potential
structures for large-scale agricultural insurance in Kenya,
the fiscal cost to the government of Kenya, and the economic
benefits for farmers and pastoralists.In order for it to
partner with the private sector to prepare and implement a
large scale agricultural insurance program, the government
should consider taking the following next steps.The
government of Kenya may build on there commendations by the
Program Steering Committee to take the lead in formulating
a national policy on agriculture insurance, in cooperation
with county administrations and private insurance companies.
The government of Kenya may develop a road map for
establishing the institutions required for large-scale
agricultural insurance programs, with the goal of covering at
least a fifth of Kenya’s agricultural producers. As next
steps for establishing livestock insurance, the government of
Kenya may decide how to integrate the proposed insurance
product with other existing protection mechanisms. As next
steps for crop insurance, the government of Kenya may seek
consultations with agricultural banks and work with private
sector insurers to develop a data audit system acceptable to
international reinsurers.
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IMPACTS OF CLIMATE CHANGE, INDEMNITY INSURANCE, JOBS, TOTAL COST, ECONOMIC MODEL, RISKS, REGULATORY FRAMEWORK, ECONOMIC GROWTH, RISK REDUCTION, INSURANCE POOLS, INCOME, INTEREST, INSURANCE VALUES, SUSTAINABILITY, INTEREST RATE, COMMERCIAL INSURANCE, PROGRAMS, INFORMATION, LIVESTOCK INSURANCE, REVENUES, PORTFOLIO, WELFARE, RISK PREMIUM, INSURANCE POLICIES, INSURANCE SOLUTIONS, LUMP SUM, INCENTIVES, ASYMMETRIC INFORMATION, PRICING, MODELS, INSURANCE CLAIMS, WEATHER INSURANCE, PRIVATE INSURANCE, PRICE, INSURANCE RISK, BENEFICIARIES, INFLATION, INSURANCE SCHEME, INSURANCE MARKET, ECONOMIC ANALYSIS, INSURANCE COMPANY, POLICYHOLDERS, CROP INSURANCE, REINSURERS, SAVINGS, SCENARIOS, MORAL HAZARD, FEASIBILITY, COSTS OF INSURANCE, INSURANCE MARKETS, INSURANCE PRODUCT, INSURANCE REGULATIONS, FIXED COSTS, FINANCIAL COSTS, INTEREST RATES, INSURANCE PAYOUT, FINANCIAL INSTITUTIONS, MARKETS, COST PER HOUSEHOLD, RATES, DISASTERS, INSURERS, TOTAL COSTS, LONG-TERM FINANCING, RISK SHARING, CAPS, REINSURANCE MARKETS, INSURANCE COVERAGE, INSURANCE POLICY, LEGAL FRAMEWORK, INSURANCE OPTIONS, FINANCE, INSURANCE PREMIUM RATES, CLIMATE VARIABILITY, REINSURANCE, CONSUMPTION, REGULATIONS, ECONOMIC COSTS, POLICIES, CLIMATE CHANGE, INSURANCE SCHEMES, INSURANCE COVER, INSURANCE AGENTS, INSURANCE PRODUCTS, VALUE, LOSSES, COMPETITIVENESS, PROGRAM COSTS, APPLICATIONS, PRODUCER PRICE, CREDIT, INSURANCE CONTRACTS, DISASTER RISK FINANCING, CLIMATE, AGRICULTURAL INSURANCE, DEMAND, MICROINSURANCE, WELFARE ANALYSIS, UTILITY FUNCTION, CLAIMS, COINSURANCE, INTERNATIONAL REINSURANCE, COST-BENEFIT, INSURANCE CONTRACT, INSURANCE INDUSTRY, INSURANCE PREMIUM, NET COST, TRANSACTION COSTS, MARKET, FINANCIAL LOSSES, EXTREME DROUGHT, RISK TRANSFER, POLICY, INSURABLE INTEREST, INSURANCE, INSURANCE PREMIUMS, LOSS, IMPACT ANALYSIS, AGENTS, SUBSISTENCE FARMERS, INSURANCE PAYMENTS, RISK, MITIGATION, INDEMNITY, INSURANCE UNDERWRITERS, PRIVATE INSURANCE COMPANIES, ALLOCATION, INSPECTIONS, FINANCIAL CAPACITY, SUPPLY, RISK MANAGEMENT PROCESS, UNDERWRITING, INSURANCE SECTOR, CONTINGENCY PLANNING, HOUSEHOLD CONSUMPTION, DYNAMIC MODEL, LOWER DEMAND, FINANCIAL SUPPORT, INVESTMENTS, RISK MANAGEMENT, COST OF INSURANCE, COST-BENEFIT ANALYSIS, CROP INSURANCE PROGRAM, INSURANCE COMPANIES, REINSURANCE CONTRACTS, POLICY ANALYSIS, FINANCIAL SECTOR, RISK MANAGERS, BASIS RISK, COVERAGE, REINSURANCE COMPANIES, PRICES, RISK ASSESSMENT, CONSUMER PROTECTION, COST OF CAPITAL, BENEFITS, RISK ANALYSIS, PREMIUMS