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Perception of Innovative Crop Insurance in Australia

Author

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  • Meuwissen, Miranda P.M.
  • Molnar, Tams A.

Abstract

Worldwide, 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.

Suggested Citation

  • Meuwissen, Miranda P.M. & Molnar, Tams A., 2010. "Perception of Innovative Crop Insurance in Australia," 2010 Internatonal European Forum, February 8-12, 2010, Innsbruck-Igls, Austria 100505, International European Forum on Innovation and System Dynamics in Food Networks.
  • Handle: RePEc:ags:iefi10:100505
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