Evaluation of an Insurance Scheme Based on the Weather Index

Jun-sheng Zhu

Chinese Economy, 2011, vol. 44, issue 6, 56-72

Abstract: This article analyzes insurance schemes based on the weather index for drought- and flood-related risks in rural China. It evaluates, both technically and operationally, the accomplishments and challenges of a weather index insurance pilot. The main lessons are summarized, followed by a series of recommendations that include improving the availability, accessibility, quality, and quantity of data, increasing government support, utilizing existing networks as platforms for index insurance, raising awareness and promoting creative marketing campaigns, developing a strong legal and regulatory framework, exploring index insurance for government to use in disaster management, and fostering participatory mechanisms, coordination, and balance.

Date: 2011
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