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The right time for insurance: how to get Kenyan farmers to protect against crop failure


Casaburi, Lorenzo (2019). The right time for insurance: how to get Kenyan farmers to protect against crop failure. Zurich, Switzerland: UBS International Center of Economics in Society, University of Zurich.

Abstract

A bad harvest can have severe consequences for farmers, especially in developing countries. But despite the significant advantages of agricultural insurance as a way to alleviate this risk, only a small percentage of farmers insure their crops. This policy brief outlines a simple but effective solution identified and tested by development economists, which has increased the adoption of crop insurance to over 70% of sugarcane farmers in Kenya. The key lies in shifting the time at which payment of premiums is required: from before the crop is harvested to afterwards.

Abstract

A bad harvest can have severe consequences for farmers, especially in developing countries. But despite the significant advantages of agricultural insurance as a way to alleviate this risk, only a small percentage of farmers insure their crops. This policy brief outlines a simple but effective solution identified and tested by development economists, which has increased the adoption of crop insurance to over 70% of sugarcane farmers in Kenya. The key lies in shifting the time at which payment of premiums is required: from before the crop is harvested to afterwards.

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Additional indexing

Item Type:Published Research Report
Communities & Collections:03 Faculty of Economics > Department of Economics
03 Faculty of Economics > UBS International Center of Economics in Society
Dewey Decimal Classification:330 Economics
Language:English
Date:2019
Deposited On:22 Nov 2019 15:41
Last Modified:10 Apr 2020 22:08
Publisher:UBS International Center of Economics in Society, University of Zurich
Series Name:UBS Center Policy Brief Series
Number of Pages:8
OA Status:Green
Official URL:https://www.ubscenter.uzh.ch/en/publications/policy_briefs/improving-crop-insurance-adoption.html
Related URLs:https://www.ubscenter.uzh.ch/de/publikationen/policy_briefs.html (Publisher)

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