Managing agricultural risk at the country level:the case of index-based livestock insurance in Mongolia

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This paper describes the index-based livestock insurance program in Mongolia designed in the context of a World Bank lending operation with Government of Mongolia and implemented on a pilot basis in 2005. This program involves a combination of self-insurance by herders, market-based insurance, and social insurance. Herders retain small losses, larger losses are transferred to the private insurance industry, and extreme or catastrophic losses are transferred to the government using a public safety net program.

Agricultural insurance revisited: New developments and perspectives in Latin America and the Caribbean

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The purpose of this paper is to provide IADB staff interested in agricultural yield insurance market development, public officials responsible for financial market policy formulation and supervision, and insurance industry practitioners in Latin America and the Caribbean with a basic primer on the topic, an overview of previous experiences, and a set of guidelines and recommendations on how to develop viable and sustainable agricultural yield insurance markets.

Piloting index-based livestock insurance in Mongolia

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This note describes the index-based livestock insurance program in Mongolia designed in the context of a World Bank lending operation with the Government of Mongolia. This project presents a unique opportunity to design and implement an original agriculture insurance program using a country-wide agricultural risk management model designed by the World Bank.

Efficiency of selected risk management instruments– An empirical analysis of risk reduction in Kazakhstani crop production

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Recent academic discussion regarding crop insurance in developing and transition countries has focused on weather index insurance. But empirical analyses of such schemes based on farm level data cannot be found in the literature, though this insurance type shows clear advantages compared to multiple-peril crop insurance and revenue insurance.

Agricultural value chain finance

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This document is a collection of presentations and discussions that took place in the “Agricultural Value Chain Finance” international seminar organized by the Food and Agriculture Organization of the United Nations (FAO), RUTA and the Academia de Centroamérica and held in San José, Costa Rica from May 16 to 18, 2006. This document summarizes the main ideas discussed throughout the seminar and shares lessons learned by participants and organizers.

Instruments reducing climatic risk for Russian agriculture

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The paper evaluates technical solutions and two main tapes of index-based insurance: area yield insurance and weather-based index insurance regarding their efficiency in reducing climatic risks of Russian farms in the steppes zone. The analysis considers area yield insurance at two levels of aggregation - oblast and rayon (county) level. Weather-based index insurance products are drawn up by combining two weather parameters – daily precipitation and daily average air temperature.

Using irrigation insurance to improve water usage of the Rio Mayo irrigation system in Northwestern Mexico

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In many regions of the world, the timing between rainfall and the cropping season does not coincide creating the necessity for managing water resources. Although reservoirs and irrigation systems can usually guarantee needed water supplies for peak cropping periods within a single crop year, their risk-reducing effectiveness over a period of years can be diminished by annual rainfall and climate variables. The authors investigate a financial instrument based on river flow accumulations--irrigation insurance--to address drought-induced income shocks and water allocation problems.

The potential for scale and sustainability in weather index insurance for agricultural and rural livelihoods

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This publication from the IFAD-WFP Weather Risk Management Facility (WRMF) argues that weather index-based insurance can be effective in helping to manage natural disaster relief and encourage agricultural development. Learning from 37 index insurance programmes around the world, "The Potential for Scale and Sustainability in Weather Index Insurance for Agriculture and Rural Livelihoods" distils eight key principles for scale and sustainability and outlines how donors and governments can support such risk management initiatives.

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