Government Support to Agricultural Insurance : Challenges and Options for Developing Countries
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World Bank
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Governments in developing countries have
been increasingly involved in the support of commercial
agricultural (crop and livestock) insurance programs in
recent years. A striking example is China, where, with
support (and premium subsidies) from the central and
provincial governments, the agricultural insurance market
grew dramatically to become the second largest market in the
world (after the United States) in 2008. In India and
Mexico, weather-based crop insurance has been developed on a
large scale to protect farmers against the vagaries of the
weather. Many other countries have investigated the
feasibility of agricultural insurance, and some have
implemented pilot programs. This book aims to inform and
update public and private decision makers involved in
promoting agricultural insurance about recent developments
in agriculture insurance. The literature is heavily biased
toward the practice and experience of a few very large
public-private programs in Northern America and Europe,
which are driven by large public financial subsidies. This
book provides decision makers with a framework for
developing agricultural insurance. It is based on an
analytical review of the rationale for public intervention
in agricultural insurance and a detailed comparative
analysis of crop and livestock insurance programs provided
with and without government support in more than 65
developed and developing countries. The comparative analysis
is based on a survey conducted by the World Bank's
agricultural insurance team in 2008. Drawing on the survey
results, the book identifies some key roles governments can
play to support the development of sustainable, affordable,
and cost-effective agricultural insurance programs.
Palabras clave
ACCIDENT, ACCIDENTS, AGRICULTURAL ECONOMICS, AGRICULTURAL INSURANCE, AGRICULTURAL INSURANCE SCHEME, AGRICULTURAL INSURANCE SCHEMES, AGRICULTURAL PRODUCTION, ASYMMETRIC INFORMATION, BANKS, BASIS RISK, BENEFICIARIES, BONDS, BROKERS, CAPITAL MARKETS, CATASTROPHE RISK FINANCING, CATASTROPHIC EVENTS, CATASTROPHIC INSURANCE, CATASTROPHIC RISKS, CLIMATE, CLIMATE CHANGE, COINSURANCE, COMMERCIAL INSURANCE, CONTINGENT LIABILITY, COOPERATIVES, COST OF CAPITAL, COST OF INSURANCE, COSTS OF INSURANCE, CREDIT INSURANCE, CROP INSURANCE, CROP INSURANCE PREMIUM, CROP INSURANCE PROGRAM, CROP INSURANCE SCHEME, DEVELOPMENT NETWORK, DISASTER, DISASTER RISK, DISASTERS, DONOR COMMUNITY, DROUGHT, DROUGHTS, EARTHQUAKE, EARTHQUAKES, ECONOMIC ANALYSIS, ECONOMIC COSTS, ECONOMIC GROWTH, ECONOMIC MODELS, ECONOMIC WELFARE, ENVIRONMENTAL POLICY, EXCHANGE RATES, EXTREME EVENTS, EXTREME WEATHER, EXTREME WEATHER EVENTS, FARMER, FEASIBILITY, FINANCIAL CHALLENGES, FINANCIAL COMPENSATION, FINANCIAL INSTITUTIONS, FINANCIAL LOSS, FINANCIAL MANAGEMENT, FINANCIAL MARKETS, FINANCIAL MECHANISM, FINANCIAL MECHANISMS, FINANCIAL PERFORMANCE, FINANCIAL RISK, FINANCIAL RISK MANAGEMENT, FINANCIAL SERVICES, FINANCIAL SUPPORT, FIRE, FLOOD, FLOODS, FUTURES, GENERAL INSURANCE, GROSS NATIONAL INCOME, HEALTH CARE, HEALTH RISK, HOUSING, HURRICANE, HURRICANES, INCOME, INDEMNITIES, INDEMNITY, INDEMNITY INSURANCE, INSURABILITY, INSURABLE INTEREST, INSURANCE AGENTS, INSURANCE BROKER, INSURANCE BROKERS, INSURANCE COMPANIES, INSURANCE COMPANY, INSURANCE CONTRACT, INSURANCE CONTRACTS, INSURANCE COVERAGE, INSURANCE CULTURE, INSURANCE EXPERTS, INSURANCE GUARANTEE, INSURANCE MARKET, INSURANCE MARKETS, INSURANCE POLICY, INSURANCE POOLS, INSURANCE PREMIUM, INSURANCE PREMIUM RATES, INSURANCE PREMIUMS, INSURANCE PRODUCT, INSURANCE PRODUCTS, INSURANCE SCHEMES, INSURANCE SECTOR, INSURANCE SOLUTIONS, INSURERS, INTEREST RATES, INTERNATIONAL FINANCIAL INSTITUTIONS, INTERNATIONAL FINANCIAL ORGANIZATIONS, INTERNATIONAL REINSURANCE, LIBERALIZATION, LIFE INSURANCE, LIFE INSURANCE PREMIUMS, LIVESTOCK INSURANCE, LOSS RATIO, MARKET FAILURE, MORAL HAZARD, MULTIPLE PERIL CROP INSURANCE, NATURAL DISASTER, NATURAL DISASTERS, NON-BANK, NONLIFE INSURANCE, OUTBREAKS, POLICY MAKERS, PORTFOLIO, PRICE RISK, PRICE VOLATILITY, PRIMARY INSURER, PRIVATE INSURANCE, PRIVATE INSURANCE COMPANIES, PROGRAMS, PROPERTY INSURANCE, PUBLIC INSURANCE, RATES, RE INSURANCE, REDUCING POVERTY, REGULATORY FRAMEWORK, REINSURANCE AGREEMENT, REINSURANCE CAPACITY, REINSURANCE COMPANIES, REINSURANCE CONTRACT, REINSURANCE MARKETS, REINSURER, REINSURERS, RELIEF, RESERVES, RISK ASSESSMENT, RISK AVERSION, RISK EXPOSURE, RISK MANAGEMENT, RISK MANAGEMENT POLICIES, RISK MITIGATION, RISK PROFILES, RISK REDUCTION, RISK TRANSFER, SAFETY, SAVINGS, SOCIAL ASSISTANCE, SOLVENCY, STORM, SUBSISTENCE FARMERS, SUSTAINABILITY, TOTAL COST, TRANSACTIONS COSTS, TREATY REINSURANCE, UNCERTAINTIES, UNDERWRITING, WEATHER INSURANCE