PARAMETRIC CROP INSURANCE AGAINST FLOODS: THE CASE OF BOSNIA AND HERZEGOVINA

Bojan Baškot and Stanko Stanić

Economic Annals, 2020, vol. 65, issue 224, 83 - 100

Abstract: The importance of risk man-agement in agriculture is unquestionable. Farmers in Bosnia and Herzegovina face weather, product, and price and market risk. Index-based insurance products for agriculture present alternatives for man-aging weather risk. They differ from clas-sical insurance products in that they do not remunerate actual loss and to purchase a weather index insurance policy the insured does not actually have to have an insurable interest. In this research, two flood para-metric insurance products are presented, one with fixed compensation and the other with compensation proportional to flood intensity.

Keywords: catastrophic insurance; weather-index-based insurance; insurance premium (search for similar items in EconPapers)
JEL-codes: C58 G22 (search for similar items in EconPapers)
Date: 2020
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