The Potential for Scale and Sustainability in Weather Index Insurance

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Table of contents ACKNOWLEDGEMENTS 5 ACRONYMS 6 EXECUTIVE SUMMARY 9 CHAPTER 1. RISK IN AGRICULTURE 13 The problem 13 Types of risk in agriculture 13 How risks are traditionally managed 15 Households and communities 15 Financial service providers and input suppliers 17 Private insurers 17 Governments and relief agencies 18 CHAPTER 2. WEATHER INDEX-BASED INSURANCE 21 Index insurance for disaster relief 23 Index insurance for development 24 Challenges for index insurance 26 Demand 26 Contract design and basis risk 29 Reinsurance 30 CHAPTER 3. KEY DRIVERS OF SUSTAINABILITY AND SCALABILITY OF WEATHER INDEX INSURANCE Create a proposition of real value to the insured, and offer insurance as part 33 of a wider package of services 36 Build the capacity and ownership of implementation stakeholders 39 Increase client awareness of index insurance products Graft onto existing, efficient delivery channels, engaging the private sector 41 from the beginning 43 Access international risk-transfer markets 44 Improve the infrastructure and quality of weather data 45 Promote enabling legal and regulatory frameworks 48 Monitor and evaluate products to promote continuous improvement 49 CHAPTER 4. ROLES FOR GOVERNMENTS AND DONORS IN PROMOTING THE SCALING UP OF INDEX INSURANCE 53 3
4 CONCLUSION 59 REFERENCES AND RESOURCES 60 GLOSSARY 63 ANNEX. CASE STUDIES 65 1. AGROASEMEX in Mexico 65 2. PepsiCo contract farming in India 75 3. Index insurance in Ethiopia – three pilots 85 4. Index insurance in China 97 5. Private and public index insurance in India 105 6. Forage Rainfall Plan in Ontario, Canada 121 7. Rainfall and vegetation index insurance pilots in the United States 129 8. Index insurance pilot in Ukraine 137 9. Index insurance for farm families in Rio Grande do Sul, Brazil 145
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60 References and resources Arce, C
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62 REFERENCES AND RESOURCES McCarth
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76 CASE STUDY 2 PEPSICO CONTRACT FA
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98 Figure 4: Changfeng and Huaiyuan
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100 CASE STUDY 4 INDEX INSURANCE IN
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102 CASE STUDY 4 INDEX INSURANCE IN
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122 Figure 7: Ontario, Canada CASE
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124 Table 15: Forage Rainfall Plan:
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126 Assessment CASE STUDY 6 FORAGE
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138 Figure 9: Khersons Oblast, 57 U
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140 CASE STUDY 8 INDEX INSURANCE PI
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142 CASE STUDY 8 INDEX INSURANCE PI
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Contacts IFAD Francesco Rispoli f.r
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The Potential for Scale and Sustainability in Weather Index Insurance

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