PRESENT FRAMEWORK OF AGRICULTURAL INSURANCE

Narcis Mitu

Revista Tinerilor Economisti (The Young Economists Journal), 2007, vol. 1, issue 9, 39-42

Abstract: The international agricultural insurance market has an important dimension. The experience of economically developed countries revealed the fact that without a stable development of agricultural insurances, there is no chance for high performance agriculture. This will require the establishment of a framework for responding to severe systemic events affecting agricultural production, and establishing an appropriate regulatory environment to foster private sector innovation and investment in services for less catastrophic events. During the last few years, at the international level, a variety of new financial mechanisms present the capacity of solving many issues related to the traditional projection of agricultural insurances. New instruments operate based on the configuration of the insurance indemnity payment, thus it will be paid when it reaches a certain level determined by statistic calculations and designed as the “index”.

Keywords: agricultural insurance; all-risk; multi-peril; weather-based indexinsurance; area-based index insurance (search for similar items in EconPapers)
JEL-codes: G22 Q14 (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:aio:rteyej:v:1:y:2007:i:9:p:39-42

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