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Agriculture is an economic sector that is exposed to an array of risks such as climate change, pests attack, disease, and others. In its attempt to sustain and protect this sector, the Malaysian government in its 2013 budget has initiated a takaful plan to help farmers reduce losses resulting from natural disasters. Hence, this research aims to investigate the relationship between attitude, subjective norm, perceived behavioral control, perceived risk, and intention to participate in agriculture takaful. Apart from this, the research also aims to explore the risks faced by farmers as well as to analyze the farmers’ need to participate in this risk management plan. Three hundred thirty six respondents comprising paddy farmers in Kedah participated in this survey. Quota sampling technique is used to measure the attitude, subjective norm, perceived behavioral control, perceived risk, and intention to participate in agriculture takaful. Pearson correlation was used to measure the relationship between the variables. The results indicate that risks most severe and most frequently experienced by farmers are those caused by pests attack. Furthermore, the findings also explained that perceived risk and attitude are the significant factors that influence paddy farmers’ intention to participate in agriculture takaful. Findings from the study would be beneficial to takaful operators, relevant ministries, and policy makers to materialize the implementation of an agriculture takaful plan for this sector. |
