RISK MANAGEMENT IN THE AGRICULTURAL SECTOR WITH SPECIAL ATTENTION TO INSURANCE

Anna Lorant () and Maria Fekete Farkas
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Anna Lorant: Szent Istvan University
Maria Fekete Farkas: Szent Istvan University

Polish Journal of Management Studies, 2015, vol. 11, issue 2, 71-82

Abstract: The agricultural sector is highly affected by the weather conditions and losses will likely increase in the future as natural disasters become more frequent (IPCC, 2012). There are a number of tools available in agricultural risk management; in this article we review agricultural insurance schemes of several OECD countries with special attention to the role of the government and the promotion of risk reduction and good agricultural practices. At the end we conclude that while public involvement can significantly increase penetration; the lack of self-efficacy is still a major challenge in many systems, which countries are addressing in different ways. The new Hungarian system could potentially become an example of successful public-private partnership that addresses the self-efficacy problem in an efficient way.

Keywords: agriculture; risk management; insurance; climate change; risk reduction; OECD countries. (search for similar items in EconPapers)
Date: 2015
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