Peculiarities and trends of Insurance of Agricultural Sector in Georgia

Nato Kakashvili ()
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Nato Kakashvili: Ivane Javakhishvili Tbilisi State University

No 5107444, Proceedings of International Academic Conferences from International Institute of Social and Economic Sciences

Abstract: Actuality. Agricultural sector, unlike other sectors of economy, is characterized by specific risk factors, which largely depend on natural and climatic conditions and the current global meteorological changes. In Georgia, an agricultural insurance project has been developed, which will support and help agricultural farms to get agricultural insurance service. Insurance is the financial mechanism, which is built on the principle of solidarity and is based on the noble idea of minimizing social risks. Insufficient rates of development of agricultural sector in Georgia is related with the problems of provision of financial resources and the issues of risk management.Research objective. Studying and analyzing the current insurance mechanisms in agricultural sector of Georgia and determining major development trends based on the experience of the European Union.Research object. Insurance in agricultural sector of Georgia.Research methods. Due to the complexity and great practical significance of the research, the following research methods have been used while working on the paper: systemic, historical and logical generalization methods, as well as scientific abstraction, analysis and synthesis. Conclusion. The outcomes and conclusions of the survey will contribute to eliminate the problems in the insurance system of agricultural sector of Georgia and improvement of effectiveness.

Keywords: insurance; insurer; insured; agricultural sector insurance; loss ratio; tariff rate; level of subsidies. (search for similar items in EconPapers)
Pages: 4 pages
Date: 2017-05
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Published in Proceedings of the Proceedings of the 29th International Academic Conference, Rome, May 2017, pages 41-44

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