Examining the Feasibility of Livestock Insurance in Mongolia

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dc.creatorSkees, Jerry R.
dc.creatorEnkh-Amgalan, Ayurzana
dc.date2014-08-13T17:13:56Z
dc.date2014-08-13T17:13:56Z
dc.date2002-09
dc.date.accessioned2026-07-01T01:21:51Z
dc.descriptionHerders in Mongolia have suffered tremendous losses in recent dzud (winter disasters), with livestock mortality rates of over 50 percent in some locales. This study examines the feasibility of offering insurance to compensate for animal deaths. Such an undertaking is challenging in any country. Mongolia offers even more challenges given the vast territory in which herders tend over 30 million animals. Traditional approaches that insure individual animals are simply not workable. The opportunities for fraud and abuse are significant. Monitoring costs required to mitigate this behavior would be very high. This study focuses on the potential for using the livestock mortality rate at a local level (for example, the sum or rural district) as the basis for indemnifying herders. Applications of index insurance are growing around the world, although no country has so far implemented such insurance for livestock deaths. But few countries have such frequent and high rates of localized animal deaths as does Mongolia, and it is one of the few countries that perform an animal census every year. This concept may therefore be precisely what is needed to start a social livestock insurance program. Just as important, the insurance that is used in Mongolia should not interfere with the exceptional efforts that experienced herders take to save animals during severe weather. Using an individual insurance may, in fact, diminish these efforts. Herders may ask, "Why should I work so hard to save my animals if I will simply be compensated for those that are lost?" Since the index insurance would pay all herders in the same region the same rate, the incentives for management to mitigate livestock losses remain strong. No one would reduce their effort to collect on insurance. Those who increase their efforts during a major event (dzud) would likely be compensated for this effort even though they do not lose livestock. In some cases, they could reasonably expect to receive payments that would compensate for the added effort or the added cost of trying to save their livestock.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2002/09/2014515/examining-feasibility-livestock-insurance-mongolia
dc.identifierhttps://hdl.handle.net/10986/19291
dc.identifierhttps://doi.org/10.1596/1813-9450-2886
dc.identifier.urihttp://hdl.handle.net/123456789/417414
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper;No. 2886
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectACCOUNTING SYSTEMS
dc.subjectADULT MORTALITY
dc.subjectADVERSE SELECTION
dc.subjectAGENTS
dc.subjectAGRICULTURAL INSURANCE
dc.subjectANIMAL
dc.subjectANIMAL LOSSES
dc.subjectANIMALS
dc.subjectAPPLICATIONS
dc.subjectASSET DIVERSIFICATION
dc.subjectAUDITING
dc.subjectAUDITORS
dc.subjectBREEDING
dc.subjectBREEDING STOCK
dc.subjectCAPITAL MARKETS
dc.subjectCATTLE
dc.subjectCOMPULSORY INSURANCE
dc.subjectCOVERAGE
dc.subjectDISASTERS
dc.subjectECONOMICS
dc.subjectECONOMIES OF SCALE
dc.subjectFEED
dc.subjectFEEDS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFODDER
dc.subjectFORAGE
dc.subjectFRAUD
dc.subjectGOATS
dc.subjectGRAZING
dc.subjectHERDERS
dc.subjectHERDING
dc.subjectHERDS
dc.subjectHORSES
dc.subjectINCOME
dc.subjectINCREMENTAL COSTS
dc.subjectINDEMNITY
dc.subjectINSURANCE PRODUCTS
dc.subjectINSURANCE SYSTEM
dc.subjectINSURERS
dc.subjectINTEGRITY
dc.subjectLEGISLATION
dc.subjectLIVESTOCK
dc.subjectLIVESTOCK HERDERS
dc.subjectLIVESTOCK INSURANCE
dc.subjectLIVESTOCK MANAGEMENT
dc.subjectLIVESTOCK NUMBERS
dc.subjectLIVESTOCK PRODUCERS
dc.subjectLIVESTOCK PRODUCTION
dc.subjectMORAL HAZARD
dc.subjectMORTALITY
dc.subjectNATURAL RESOURCES
dc.subjectNOMADIC HERDERS
dc.subjectPOLICY MAKERS
dc.subjectPOLICY RESEARCH
dc.subjectPRECIPITATION
dc.subjectPREMIUMS
dc.subjectPRIVATE BANKS
dc.subjectPRIVATE INSURANCE
dc.subjectPRIVATE INSURANCE COMPANIES
dc.subjectRATES
dc.subjectREINSURANCE
dc.subjectREINSURANCE MARKETS
dc.subjectRESERVES
dc.subjectRISK MANAGEMENT
dc.subjectRISK MITIGATION
dc.subjectRISK SHARING
dc.subjectSHEEP
dc.subjectTRANSACTION COSTS
dc.subjectUNDERWRITING
dc.subjectWATER SUPPLY
dc.subjectWILLINGNESS TO PAY LIVESTOCK MANAGEMENT
dc.subjectLIVESTOCK NUMBERS
dc.subjectMORTALITY LEVELS
dc.subjectINSURANCE CASUALTY
dc.subjectANIMAL HEALTH
dc.subjectLIVESTOCK NUMBERS
dc.subjectHERDERS
dc.titleExamining the Feasibility of Livestock Insurance in Mongolia

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