When and How Should Agricultural Insurance Be Subsidized?
Agricultural insurance, defined here to include crop and livestock insurance, is an instrument of choice in many countries for helping farmers and rural communities cope with risk. This paper explores the reasons why governments and donors subsidize agricultural insurance, and asks: (a) is this a worthwhile way to spend public money, and (b) if insurance must be subsidized are there smarter ways of doing it that can achieve the same objectives, but at lower cost, and which avoid some of the economic and institutional pitfalls that have plagued subsidized agricultural insurance in the past. The paper is structured as follows: section one gives introduction. Section two reviews existing types and levels of subsidies for agricultural insurance, both globally and for the developing world. Section three reviews the various arguments that have been offered for subsidizing agricultural insurance, while section four discusses some of the key challenges that have arisen when insurance subsidies are poorly designed. Section five seeks to balance the benefits and costs of subsidized agricultural insurance, and asks whether this has proven to be a worthwhile way of spending public funds. Section six presents a set of guiding principles and best practices to be used in their design and implementation. Finally, section seven concludes.
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| Main Authors: | , , |
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| Format: | Working Paper biblioteca |
| Language: | English |
| Published: |
International Labour Organization and the International Finance Corporation
2017
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| Subjects: | AGRICULTURAL INSURANCE, SUBSIDIES, ACCESS TO FINANCE, DISASTER ASSISTANCE, CROP RISK MANAGEMENT, NATURAL DISASTERS, GLOBAL INDEX INSURANCE FACILITY, IMPACT INSURANCE FACILITY, |
| Online Access: | http://documents.worldbank.org/curated/en/330501498850168402/When-and-how-should-agricultural-insurance-be-subsidized-issues-and-good-practices https://hdl.handle.net/10986/31438 |
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dig-okr-10986314382024-08-07T19:38:16Z When and How Should Agricultural Insurance Be Subsidized? Issues and Good Practices Hazell, Peter Sberro-Kessler, Rachel Varangis, Panos AGRICULTURAL INSURANCE SUBSIDIES ACCESS TO FINANCE DISASTER ASSISTANCE CROP RISK MANAGEMENT NATURAL DISASTERS GLOBAL INDEX INSURANCE FACILITY IMPACT INSURANCE FACILITY Agricultural insurance, defined here to include crop and livestock insurance, is an instrument of choice in many countries for helping farmers and rural communities cope with risk. This paper explores the reasons why governments and donors subsidize agricultural insurance, and asks: (a) is this a worthwhile way to spend public money, and (b) if insurance must be subsidized are there smarter ways of doing it that can achieve the same objectives, but at lower cost, and which avoid some of the economic and institutional pitfalls that have plagued subsidized agricultural insurance in the past. The paper is structured as follows: section one gives introduction. Section two reviews existing types and levels of subsidies for agricultural insurance, both globally and for the developing world. Section three reviews the various arguments that have been offered for subsidizing agricultural insurance, while section four discusses some of the key challenges that have arisen when insurance subsidies are poorly designed. Section five seeks to balance the benefits and costs of subsidized agricultural insurance, and asks whether this has proven to be a worthwhile way of spending public funds. Section six presents a set of guiding principles and best practices to be used in their design and implementation. Finally, section seven concludes. 2019-03-26T18:29:30Z 2019-03-26T18:29:30Z 2017 Working Paper Document de travail Documento de trabajo http://documents.worldbank.org/curated/en/330501498850168402/When-and-how-should-agricultural-insurance-be-subsidized-issues-and-good-practices https://hdl.handle.net/10986/31438 English CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo International Finance Corporation and International Labour Organization application/pdf International Labour Organization and the International Finance Corporation |
| institution |
Banco Mundial |
| collection |
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| country |
Estados Unidos |
| countrycode |
US |
| component |
Bibliográfico |
| access |
En linea |
| databasecode |
dig-okr |
| tag |
biblioteca |
| region |
America del Norte |
| libraryname |
Biblioteca del Banco Mundial |
| language |
English |
| topic |
AGRICULTURAL INSURANCE SUBSIDIES ACCESS TO FINANCE DISASTER ASSISTANCE CROP RISK MANAGEMENT NATURAL DISASTERS GLOBAL INDEX INSURANCE FACILITY IMPACT INSURANCE FACILITY AGRICULTURAL INSURANCE SUBSIDIES ACCESS TO FINANCE DISASTER ASSISTANCE CROP RISK MANAGEMENT NATURAL DISASTERS GLOBAL INDEX INSURANCE FACILITY IMPACT INSURANCE FACILITY |
| spellingShingle |
AGRICULTURAL INSURANCE SUBSIDIES ACCESS TO FINANCE DISASTER ASSISTANCE CROP RISK MANAGEMENT NATURAL DISASTERS GLOBAL INDEX INSURANCE FACILITY IMPACT INSURANCE FACILITY AGRICULTURAL INSURANCE SUBSIDIES ACCESS TO FINANCE DISASTER ASSISTANCE CROP RISK MANAGEMENT NATURAL DISASTERS GLOBAL INDEX INSURANCE FACILITY IMPACT INSURANCE FACILITY Hazell, Peter Sberro-Kessler, Rachel Varangis, Panos When and How Should Agricultural Insurance Be Subsidized? |
| description |
Agricultural insurance, defined here to
include crop and livestock insurance, is an instrument of
choice in many countries for helping farmers and rural
communities cope with risk. This paper explores the reasons
why governments and donors subsidize agricultural insurance,
and asks: (a) is this a worthwhile way to spend public
money, and (b) if insurance must be subsidized are there
smarter ways of doing it that can achieve the same
objectives, but at lower cost, and which avoid some of the
economic and institutional pitfalls that have plagued
subsidized agricultural insurance in the past. The paper is
structured as follows: section one gives introduction.
Section two reviews existing types and levels of subsidies
for agricultural insurance, both globally and for the
developing world. Section three reviews the various
arguments that have been offered for subsidizing
agricultural insurance, while section four discusses some of
the key challenges that have arisen when insurance subsidies
are poorly designed. Section five seeks to balance the
benefits and costs of subsidized agricultural insurance, and
asks whether this has proven to be a worthwhile way of
spending public funds. Section six presents a set of guiding
principles and best practices to be used in their design and
implementation. Finally, section seven concludes. |
| format |
Working Paper |
| topic_facet |
AGRICULTURAL INSURANCE SUBSIDIES ACCESS TO FINANCE DISASTER ASSISTANCE CROP RISK MANAGEMENT NATURAL DISASTERS GLOBAL INDEX INSURANCE FACILITY IMPACT INSURANCE FACILITY |
| author |
Hazell, Peter Sberro-Kessler, Rachel Varangis, Panos |
| author_facet |
Hazell, Peter Sberro-Kessler, Rachel Varangis, Panos |
| author_sort |
Hazell, Peter |
| title |
When and How Should Agricultural Insurance Be Subsidized? |
| title_short |
When and How Should Agricultural Insurance Be Subsidized? |
| title_full |
When and How Should Agricultural Insurance Be Subsidized? |
| title_fullStr |
When and How Should Agricultural Insurance Be Subsidized? |
| title_full_unstemmed |
When and How Should Agricultural Insurance Be Subsidized? |
| title_sort |
when and how should agricultural insurance be subsidized? |
| publisher |
International Labour Organization and the International Finance Corporation |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/330501498850168402/When-and-how-should-agricultural-insurance-be-subsidized-issues-and-good-practices https://hdl.handle.net/10986/31438 |
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| _version_ |
1807160479241469952 |