Perception of Innovative Crop Insurance in Australia
AbstractWorldwide, extreme climate risks cause stakeholders in food supply chains to search for new risk management tools. In Australia, recently so‐called crop yield simulation insurance has been introduced based on an integrated agrometeorological simulation model. Current uptake is relatively low, possibly because Australian farmers perceive commodity price risk as more important than climate risk. Also, they perceive risk management tools such as water management and diversification as more important than buying crop insurance. Still, opportunities seem to exist for new insurance products, such as crop yield simulation insurance, as indicated by farmers’ interest into such products. Outcomes are useful in worldwide discussions on risk management opportunities in dryland agriculture.
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Bibliographic InfoPaper provided by International European Forum on Innovation and System Dynamics in Food Networks in its series 2010 Internatonal European Forum, February 8-12, 2010, Innsbruck-Igls, Austria with number 100505.
Date of creation: Oct 2010
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Web page: http://www.fooddynamics.org/
Crop yield simulation; Yield insurance; Wheat farmers; Personal interviews; Agribusiness; Farm Management; Food Consumption/Nutrition/Food Safety; Production Economics; Research Methods/ Statistical Methods;
This paper has been announced in the following NEP Reports:
- NEP-AGR-2011-03-05 (Agricultural Economics)
- NEP-ALL-2011-03-05 (All new papers)
- NEP-IAS-2011-03-05 (Insurance Economics)
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