Perception of Innovative Crop Insurance in Australia

Miranda P.M. Meuwissen and Tams A. Molnar

No 100505, 2010 International European Forum, February 8-12, 2010, Innsbruck-Igls, Austria from International European Forum on System Dynamics and Innovation in Food Networks

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.

Keywords: Agribusiness; Farm Management; Food Consumption/Nutrition/Food Safety; Production Economics; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 9
Date: 2010-10
New Economics Papers: this item is included in nep-agr and nep-ias
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iefi10:100505

DOI: 10.22004/ag.econ.100505

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