Whole farm revenue insurance as a new model of risk management in agriculture
| Autor: | Željko Kokot, Todor Marković |
|---|---|
| Rok vydání: | 2018 |
| Předmět: |
0106 biological sciences
lcsh:Biotechnology Soil Science Plant Science lcsh:Plant culture Horticulture 01 natural sciences Biochemistry Agricultural economics lcsh:TP248.13-248.65 Insurance policy Genetics Market price Revenue lcsh:SB1-1110 Agricultural productivity Risk management 2. Zero hunger business.industry Total revenue 04 agricultural and veterinary sciences crops farms one policy Market risk 13. Climate action Agriculture 040103 agronomy & agriculture 0401 agriculture forestry and fisheries total revenue business risks Agronomy and Crop Science insurance 010606 plant biology & botany Biotechnology |
| Zdroj: | Ratarstvo i Povrtarstvo, Vol 55, Iss 1, Pp 22-28 (2018) Ratarstvo i povrtarstvo (2018) 55(1):22-28 |
| ISSN: | 2217-8392 1821-3944 |
| Popis: | Since agricultural production takes place under the open sky and it is largely unprotected, the risk of occurrence of some harmful event (hail, flood, drought, cold, storm, fire, etc.) increases. In addition to natural and climatic factors, financial, market and institutional factors have a strong effect on agricultural production. The crop and fruit insurance is certainly the most effective risk management instrument in crop production in the open air. The aim of the paper is to present an entirely new insurance model that began to apply in 2015 in the United States of America. By its application, each farm ensures its expected total revenue that can be endangered by the effects of both natural and climate, as well as market risks, which are manifested through fluctuations in market prices. This way, all crops on the farm are insured from all kinds of risks under just one insurance policy. Analyzed farm has experienced revenue loss due to drought, therefore it has indemnity right in the amount of € 2,500. Premium cost borne by farmer amounts to € 330. |
| Databáze: | OpenAIRE |
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