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Role Of Insurance In Agricultural Lending

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  • Dr. Ben Kajwang PhD

Abstract

Purpose: This paper examines the role of insurance in providing loans for agricultural sector. There are many agricultural hazards that cannot be insured on a financially sound basis; nonetheless, there is room for enhanced insurance coverage of farm assets, of the life and health of individuals living in rural areas, and of certain specific dangers that affect crop and livestock production. Methodology: A desktop literature review was used for this purpose. Relevant seminal references and journal articles for the study were identified using Google Scholar. The inclusion criteria entailed papers that were not over 5 years old. Findings: The insurance framework in agricultural lending that has been presented calls for the participation of policymakers and implementers in addition to marketing channels and micro users. Agricultural insurance penetration based on the research of both the demand and supply side and it might be used as a tool for lowering the level of physical risk. Unique Contribution to Theory, Policy and Practice: It is necessary to have experts, researchers, and extension agents step up their guidance and supervision efforts. Because it was difficult to discover a source of long-term funding or sponsorships, international and regional technical assistance, expertise, and financial support were urgently required.

Suggested Citation

  • Dr. Ben Kajwang PhD, 2022. "Role Of Insurance In Agricultural Lending," International Journal of Finance and Accounting, IPRJB, vol. 7(2), pages 74-83.
    • Handle: RePEc:bdu:ojijfa:v:7:y:2022:i:2:p:74-83:id:1602
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    References listed on IDEAS

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    1. Leonard Onyiriuba & E.U. Okoro Okoro & Godwin Imo Ibe, 2020. "Strategic government policies on agricultural financing in African emerging markets," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 80(4), pages 563-588, April.
    2. Michael K. Ndegwa & Apurba Shee & Calum G. Turvey & Liangzhi You, 2020. "Uptake of insurance-embedded credit in presence of credit rationing: evidence from a randomized controlled trial in Kenya," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 80(5), pages 745-766, June.
    3. Kevin N. Kim & Ani L. Katchova, 2022. "Agricultural bank acquisitions and postacquisition performance: An examination of the role of shared knowledge," Agribusiness, John Wiley & Sons, Ltd., vol. 38(4), pages 743-770, October.
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