Feasibility of an Area-Yield Insurance Scheme in the EU: Evidence from Finland

Petri Liesivaara and Sami Myyrä

EuroChoices, 2015, vol. 14, issue 3, 28-33

Abstract: type="graphical" xml:id="euch12096-abs-0101">

Yield variability increases farm income volatility. This volatility is expected to increase as the frequency of extreme weather events intensifies with climate change. Preparation is needed in farm practices, but also in economic risk management on farms. In the EU, new crop insurance schemes are to be founded on public–private partnerships. Member States and the EU will subsidise farmers purchasing crop insurance from private insurance companies or mutual funds. At the same time, the EU is signalling that basis risk, i.e. potential mismatch between insurance pay-out and actual crop losses at the farm level will not be tolerated.

Date: 2015
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