Agricultural Insurance Program: Lessons from Different Country Experiences

Christian Mina, Celia M. Reyes, Reneli Ann B. Gloria and Adrian D. Agbon

No DP 2017-02, Discussion Papers from Philippine Institute for Development Studies

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.

Keywords: Philippines; crop insurance; agricultural insurance; developed economies; developing economies (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-agr, nep-ias, nep-rmg and nep-sea
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Citations: View citations in EconPapers (4)

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