Is there a market for multi-peril crop insurance in developing countries moving beyond subsidies? Evidence from India

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dc.creatorGhosh, Ranjan Kumar
dc.creatorGupta, Shweta
dc.creatorSingh, Vartika
dc.creatorWard, Patrick S.
dc.date2019-03-29
dc.date2024-06-21T09:13:13Z
dc.date2024-06-21T09:13:13Z
dc.date.accessioned2026-06-27T15:35:45Z
dc.descriptionResearchers and policymakers have long understood the benefits of crop insurance but have been consistently disappointed by the poor performance of these programs. Rarely have programs seen sizeable take-up rates without support through large government subsidies, and in many countries, demand has been meager even at prices well below fair-market rates. Experiences from India have largely followed this trend, despite a number of large policy initiatives. Limited demand stems from low perceived value, arguably because the existing insurance products are unsuited to farmers’ needs. The present study fills an important gap in rural development by improving upon existing insurance policy design by incorporating product characteristics better suited to farmers’ preferences. To do so, we conducted a discrete choice experiment with agricultural households in four states in India. While farmers seem to like several of the features of policies offered under existing programs, our results suggest they would generally be willing to pay more than the highly subsidized rate they currently pay and are also clearly dissatisfied with delayed and uncertain indemnity payments and would be willing to pay a significant premium for more assured and timely payment delivery.
dc.formatapplication/pdf
dc.identifierhttps://hdl.handle.net/10568/147314
dc.identifier.urihttp://hdl.handle.net/123456789/108907
dc.languageen
dc.publisherInternational Food Policy Research Institute
dc.relationhttps://hdl.handle.net/10568/145897
dc.relationhttps://hdl.handle.net/10568/147493
dc.relationhttps://hdl.handle.net/10568/147891
dc.relationhttps://hdl.handle.net/10568/147890
dc.relationhttps://doi.org/10.2499/p15738coll2.134239
dc.rightsOpen Access
dc.sourceGhosh, Ranjan Kumar; Gupta, Shweta; Singh, Vartika; and Ward, Patrick S. 2019. Is there a market for multi-peril crop insurance in developing countries moving beyond subsidies? Evidence from India. IFPRI Discussion Paper 1820. Washington, DC: International Food Policy Research Institute (IFPRI). https://hdl.handle.net/10568/147314
dc.subjectwillingness to pay
dc.subjectagricultural policies
dc.subjectfarmers
dc.subjectcapacity development
dc.subjectagriculture
dc.subjectcrop insurance
dc.subjectdeveloping countries
dc.subjectsubsidies
dc.subjectexperimental design
dc.titleIs there a market for multi-peril crop insurance in developing countries moving beyond subsidies? Evidence from India
dc.typeWorking Paper

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Instituto Internacional de Investigación sobre Políticas Alimentarias (IFPRI)