Developing Rainfall-Based Index Insurance in Morocco

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dc.creatorSkees, Jerry
dc.creatorGober, Stephanie
dc.creatorVarangis, Panos
dc.creatorLester, Rodney
dc.creatorKalavakonda, Vijay
dc.date2014-08-26T15:27:40Z
dc.date2014-08-26T15:27:40Z
dc.date2001-04
dc.date.accessioned2026-07-01T01:30:09Z
dc.descriptionCereal production accounts for about seventy percent of all agricultural land in Morocco. Cereal producer prices, influenced by the government, are higher than world prices. Production is divided into six broad agro-climatic zones. About half of cereal production is concentrated in the favorable, and intermediate zones; the rest occurs mostly in less favorable (arid and semi-arid) zones, with average annual rainfall below 450 millimeters. The authors assess the feasibility of rainfall-based index insurance, to provide effective, low-cost drought insurance for Moroccan farmers, and rural dwellers. Their analysis focuses on Morocco's three main cereal crops - hard wheat, soft wheat, and barley - using data on annual production, and planting from 1978-99. Maize is included in some of the analysis. The benefits of this program over the traditional insurance scheme are that it minimizes the risk of moral hazard, and adverse selection, and promotes a streamlined pay-out-process. These features make the program more attractive to international re-insurers, and investors in capital markets. A rainfall-indexed insurance product is feasible in Morocco, where the statistical correlation between rainfall, and cereal revenues is rather strong in seventeen provinces in the more favorable agro-climatic zones. Proportional rainfall insurance contracts, would pay the insured an amount based on the shortfall in actual rainfall, during a set period, compared with the trigger rainfall. The contracts could be purchased in any amount, allowing farmers to insure the full amount of their expected revenue, if they wish.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2001/04/1089479/developing-rainfall-based-index-insurance-morocco
dc.identifierhttps://hdl.handle.net/10986/19674
dc.identifierhttps://doi.org/10.1596/1813-9450-2577
dc.identifier.urihttp://hdl.handle.net/123456789/418679
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper;No. 2577
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectAGENTS
dc.subjectAGRICULTURAL ECONOMICS
dc.subjectAGRICULTURAL INSURANCE
dc.subjectAGRICULTURAL LAND
dc.subjectAGRICULTURAL PRODUCTION
dc.subjectAGRICULTURE
dc.subjectAVERAGE ANNUAL RAINFALL
dc.subjectBARLEY
dc.subjectCAPITAL MARKETS
dc.subjectCEREAL CROPS
dc.subjectCEREAL YIELDS
dc.subjectCEREALS
dc.subjectCLIMATE
dc.subjectCLIMATIC ZONES
dc.subjectCOMMODITIES
dc.subjectCOMMODITY
dc.subjectCROP
dc.subjectCROP INSURANCE
dc.subjectCROPPING
dc.subjectCROPS
dc.subjectCULTIVATION
dc.subjectDEBT
dc.subjectDRINKING WATER
dc.subjectEFFECTS OF DROUGHT
dc.subjectEXTENSION
dc.subjectFARM
dc.subjectFARM HOUSEHOLDS
dc.subjectFARM INCOME
dc.subjectFARM IRRIGATION
dc.subjectFARMER
dc.subjectFARMERS
dc.subjectFARMING
dc.subjectFARMING SYSTEMS
dc.subjectFARMS
dc.subjectFERTILIZERS
dc.subjectFOOD STORAGE
dc.subjectFORESTS
dc.subjectFRUITS
dc.subjectGDP
dc.subjectGRAIN
dc.subjectGRAIN STORAGE
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectINCOME
dc.subjectINCOMES
dc.subjectINDEMNITY
dc.subjectINDUSTRIAL CROPS
dc.subjectINSURANCE
dc.subjectINSURANCE CONTRACTS
dc.subjectINSURANCE COVERAGE
dc.subjectINSURANCE MARKETS
dc.subjectINSURANCE OPTIONS
dc.subjectINSURANCE POLICIES
dc.subjectINSURANCE PREMIUMS
dc.subjectINSURANCE PRODUCTS
dc.subjectINSURANCE SYSTEM
dc.subjectINSURERS
dc.subjectLEGUMES
dc.subjectLIVESTOCK
dc.subjectMAIZE
dc.subjectMORAL HAZARD
dc.subjectPLANTING
dc.subjectPOTENTIAL YIELDS
dc.subjectPRECIPITATION
dc.subjectPRIVATE SECTOR
dc.subjectPRODUCERS
dc.subjectPRODUCTIVITY
dc.subjectPROGRAMS
dc.subjectPROPERTY VALUES
dc.subjectRATES
dc.subjectREINSURANCE
dc.subjectREINSURERS
dc.subjectRISK MANAGEMENT
dc.subjectRISK PREMIUM
dc.subjectRISK REDUCTION
dc.subjectRURAL DEVELOPMENT
dc.subjectSAVINGS
dc.subjectSEEDS
dc.subjectSPRING
dc.subjectTEMPERATURE
dc.subjectUNIVERSITIES
dc.subjectVEGETATION
dc.subjectWHEAT
dc.subjectWHEAT PRICES
dc.subjectYIELDS
dc.titleDeveloping Rainfall-Based Index Insurance in Morocco

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