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Agricultural Insurance Program: Lessons from Different Country Experiences

Author

Listed:
  • Mina, Christian D.
  • Reyes, Celia M.
  • Gloria, Reneli Ann B.
  • Agbon, Adrian D.

Abstract

While agricultural insurance has long been considered a risk management tool for farmers in both developing and developed economies, policy directions toward sustainability vary across countries. Reviewing the literature provides a comprehensive view of relevant issues, such as objectives of the program, credit access by farmers, program costs, and premium subsidies provided by the national and local governments. This paper provides insights on how agricultural insurance programs from selected developed and developing economies were implemented. Learning from different country experiences, agricultural insurance is important yet costly to implement. Private insurance companies complement with the government-run insurance company to improve coverage rates. Targeting eligible beneficiaries is crucial in the success of a highly subsidized agricultural insurance, especially in developing economies.

Suggested Citation

  • Mina, Christian D. & Reyes, Celia M. & Gloria, Reneli Ann B. & Agbon, Adrian D., 2017. "Agricultural Insurance Program: Lessons from Different Country Experiences," Discussion Papers DP 2017-02, Philippine Institute for Development Studies.
    • Handle: RePEc:phd:dpaper:dp_2017-02
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    File URL: https://www.pids.gov.ph/publication/discussion-papers/agricultural-insurance-program-lessons-from-different-country-experiences
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    References listed on IDEAS

    as
    1. Vincent H. Smith & Joseph W. Glauber, 2012. "Agricultural Insurance in Developed Countries: Where Have We Been and Where Are We Going?," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 34(3), pages 363-390.
    2. repec:aei:rpaper:32545 is not listed on IDEAS
    3. Mani, K. & Chandrasekaran, M. & Selvanayaki, S., 2012. "Adaptability of Crop Insurance Schemes in Tamil Nadu," Agricultural Economics Research Review, Agricultural Economics Research Association (India), vol. 25(2).
    4. Vincent H. Smith & Joseph W. Glauber, 2012. "Agricultural Insurance in Developed Countries: Where Have We Been and Where Are We Going?," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 34(3), pages 363-390.
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    Cited by:

    1. Fabio G., Santeramo & Ilaria, Russo & Emilia, Lamonaca, 2022. "Italian subsidised crop insurance: what the role of policy changes," MPRA Paper 115299, University Library of Munich, Germany.
    2. Olita, Toto & Schilizzi, Steven & Iftekhar, Sayed, 2023. "Mitigating Risky Conservation Tenders: Can an Insurance Mechanism Be a Solution?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 48(2), May.
    3. Rajesh Tiwari & Khem Chand & Bimal Anjum, 2020. "Crop Insurance in India: A Review of Pradhan Mantri Fasal Bima Yojana (PMFBY)," FIIB Business Review, , vol. 9(4), pages 249-255, December.
    4. Walter Leal Filho & Franziska Wolf & Stefano Moncada & Amanda Lange Salvia & Abdul-Lateef Babatunde Balogun & Constantina Skanavis & Aristea Kounani & Patrick D. Nunn, 2022. "Transformative adaptation as a sustainable response to climate change: insights from large-scale case studies," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 27(3), pages 1-26, March.

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    Keywords

    Philippines; crop insurance; agricultural insurance; developed economies; developing economies;
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