Jamaica : Weather Insurance for the Coffee Sector Feasibility Study

The present report is intended as a technical, organizational and financial summary of the feasibility study to review options and to make decisions on whether or not this program meets the needs of the industry. It is recognized that decisions on whether or not to proceed towards a future insurance program will require significant consultation with farmers and processors, and an agreement on an implementation plan, including decisions on pilot testing. Chapter two describes the risk modeling undertaken during the study and the outputs. These outputs are used to define key elements of a parametric insurance product, such as zoning of coffee farmers within the blue mountain area, the frequency and severity of the wind hazard, and how the expected impact of those hazards was estimated by division into altitude bands to create vulnerability profiles. Finally the outputs can be used to price different insurance options. Chapter three considers the organizational options and requirements to deliver a parametric insurance product to coffee farmers, and some financial implications including structuring insurance and reinsurance protection. Chapter four considers the issues and steps which will be needed for implementation, including options for piloting and scaling up, and legal and regulatory requirements.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2011-10-31
Subjects:	ACCOUNTING, AGENTS, AGRICULTURAL COMMODITIES, AGRICULTURAL INSURANCE, AGRICULTURAL PRODUCTION, BANANAS, BASIS RISK, BENEFICIARIES, BERRIES, BORROWING, BROKERS, CAPACITY BUILDING, CATASTROPHIC EVENT, CHERRIES, COCONUT, COCONUTS, COFFEE, COFFEE CROP, COFFEE FARMERS, COFFEE INDUSTRY, COFFEE PLANTATIONS, COFFEE PLANTS, COFFEE PRICES, COFFEE PROCESSORS, COFFEE PRODUCTION, COFFEE SECTOR, COFFEE TREES, COFFEE YIELDS, COMMISSIONS, COMPULSORY INSURANCE, CREDIT ARRANGEMENT, CROP, CROP DAMAGE, CROP INSURANCE, CROP LOSS, CROP LOSSES, CROP MANAGEMENT, CROPPING, CROPPING SYSTEMS, CROPS, DEED, DELIVERY MECHANISMS, DEVELOPMENT BANK, DISASTER, DISASTER RISK, DISBURSEMENT, DROUGHT, DUE DILIGENCE, ECONOMIC BENEFITS, EFFECTS OF HURRICANE, EXTREME EVENT, EXTREME EVENTS, EXTREME WEATHER, EXTREME WEATHER EVENTS, FAO, FARM, FARMER, FARMERS, FARMS, FINANCIAL INSTRUMENT, FINANCIAL INSTRUMENTS, FINANCIAL RISK, FIRE, FIRE INSURANCE, FLOOD, FLOOD DAMAGES, FLOW OF INFORMATION, FOREIGN EXCHANGE, GOVERNMENT POLICIES, HARVESTING, HEAVY RAINFALL, HOLDING, HURRICANE, HURRICANES, INCOME, INDEMNITY, INDEMNITY PAYMENT, INSURANCE BROKER, INSURANCE COMPANY, INSURANCE CONTRACT, INSURANCE CONTRACTS, INSURANCE COVERAGE, INSURANCE INDUSTRY, INSURANCE MARKET, INSURANCE OPTIONS, INSURANCE POLICY, INSURANCE POOLS, INSURANCE PREMIUM, INSURANCE PRODUCT, INSURANCE PRODUCTS, INSURANCE RISK, INSURER, INSURERS, INTEGRITY, INTERNATIONAL MARKETS, ISSUANCE, LANDSLIDES, LAYERING, LEGAL CONSTRAINTS, LEVY, LINES OF CREDIT, MOBILE PHONES, MORAL HAZARD, NATURAL PHENOMENA, OUTPUTS, PLANTATIONS, POLICYHOLDERS, PORTFOLIO, PREMIUMS, PRIVATE INSURANCE, PRODUCE, PRODUCTION COSTS, PRODUCTIVITY, PROFIT MARGINS, PROGRAM MANAGEMENT, PROGRAMS, RATES, REGISTRATION PROCESS, REGISTRATION SYSTEM, REINSURANCE, REINSURANCE BROKER, REINSURANCE CAPACITY, REINSURER, REINSURERS, REPLANTING, RETURN, RISK ANALYSIS, RISK ASSESSMENT, RISK INSURANCE, RISK MANAGEMENT, RISK MANAGERS, RISK TRANSFER, ROOTING, SAVINGS, SMALL FARMERS, STORM, SUGAR, SUGAR CANE, SUSTAINABILITY, TRADING, TRANSACTION, TRANSFER RISKS, TRANSPARENCY, TROPICAL CROPS, TROPICAL CYCLONE, TROPICAL CYCLONES, TROPICAL STORM, TROPICAL STORMS, TRUST DEED, TRUSTEES, UNDERWRITERS, UNDERWRITING, VALUATION, VEGETATION, WEATHER EVENT, WIND SPEED, WIND SPEEDS, WIND STORM, YIELD LOSS, YIELDS,
Online Access:	http://documents.worldbank.org/curated/en/2011/10/17394053/jamaica-weather-insurance-coffee-sector-feasibility-study https://hdl.handle.net/10986/13240
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