Refine your search
Collections
Co-Authors
Year
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z All
Dileep, N.
- Innovative Alternatives for Crop Insurance : Rainfall-Index-Based Insurance and Futures
Abstract Views :119 |
PDF Views:0
Authors
Affiliations
1 Department of Studies in Commerce, University of Mysore, Mysuru, Karnataka, IN
2 ICSSR Senior Fellow, New Delhi, IN
1 Department of Studies in Commerce, University of Mysore, Mysuru, Karnataka, IN
2 ICSSR Senior Fellow, New Delhi, IN
Source
International Journal of Banking, Risk and Insurance, Vol 9, No 1 (2021), Pagination: 12-19Abstract
For mitigating the rainfall risk, there is a need to create hedging opportunities which may provide comprehensive relief to farming communities and other sectors. Crop insurance is one such programme currently being implemented by Government of India. A good number of studies have provided enough evidence of poor performance of crop insurance programme due to factors like delay in compensation, moral hazard, high transaction cost and lack of product knowledge. This paper attempts to reinforce the need for creating rainfall risk market in India to complement the rainfall-index based insurance. The discussion is focused on the development of a new set of rainfall indices. The proposed Deficit Rainfall Days (DRDs) and Excess Rainfall Days (ERDs) indices are different from rainfall indexation attempted by National Commodity and Derivative Exchange (NCDEX) in 2005. Rainfall-index based insurance programme introduced in India in the recent past has met with limited success. By comparing Rainfall-Index Based Insurance with Rainfall-Index Based Futures, the study highlights the necessity and significance of Rainfall Futures to create rainfall risk hedging opportunities for a wide range of stakeholders, particularly farming community.Keywords
Rainfall-Index-Based Insurance, Rainfall-Index-Based Futures, Sustainable Risk Markets.
References
- Barnett, B. J., Barrett, C. B., & Skees, J. R. (2008). Poverty traps and index-based risk transfer products. World Development, 10(36), 1766-1785. doi:https://doi.org/10.1016/j.worlddev.2007.10.016
- Barnett, B. J., & Mahul, O. (2007). Weather index insurance for agriculture and rural areas in lower income countries. American Agricultural Economics Association, 1241-1247. Retrieved from https://doi.org/10.1111/j.1467-8276.2007.01091.x
- Beltrattia, A., & Corvino, G. (2008). Why are insurance companies different? The limits of convergence among financial institutions. The International Association for the Study of Insurance Economics, 33(363-388), 1018-5895. Retrieved from https://link.springer.com/content/pdf/10.1057/gpp.2008.13.pdf
- Bharath, V., & Kotreshwar, G. (2020). Rainfall indexation for evaluating rainfall risk profile of Indian subcontinent. Indian Journal of Finance, 14(12), 38-50. Retrieved from http://www.indianjournaloffinance.co.in/index.php/IJF/article/view/156483
- Bharath, V., & Kotreshwar, G. (2020). Evaluating rainfall risk profile of Indian subcontinent based on index metrics. Indian Journal of Finance and Banking, 4(2), 38-50. Retrieved from https://www.cribfb.com/journal/index.php/ijfb/article/view/700
- Chakravarti, J. S. (1920). Agricultural insurance: A practical scheme suited to Indian conditions. Government Press. Retrieved from http://cslrepository.nvli.in//handle/123456789/7747
- Dandekar. (1976). Crop insurance in India. Economic and Political Weekly, 11(26), A61-A80. Retrieved from https://www.jstor.org/stable/4364738
- Dandekar. (1985). Crop insurance in India: A review. Economic and Political Weekly, 20(25/26), A46-A59. Retrieved from https://www.jstor.org/stable/4374538
- David Cummins, J., & Weiss, M. A. (2009). Convergence of insurance and financial markets: Hybrid and securitized risk-transfer solutions. The Journal of Risk and Insurance, 76(3), 493-545. Retrieved from https://doi.org/10.1111/j.1539-6975.2009.01311.x
- David Cummins, J., & Trainar, P. (2009). Securitization, insurance, and reinsurance. The Journal of Risk and Insurance, 76(3), 463-492.
- Dutta, A. (2008). Weather derivatives a tool for risk management in the new millennium. The ICFAI University Press. Retrieved from http://14.139.206.50:8080/jspui/bitstream/1/3890/1/Weather%20derivative.pdf
- Gatzert, N., Pokutta, S., & Vogl, N. (2017). Convergence of capital and insurance markets: Consistent pricing of index-linked catastrophe loss instruments. The Journal of Risk and Insurance. doi:https://doi.org/10.1111/jori.12191
- Grandi, M., & Müller, A. (1999). Insurance derivatives: Convergence of capital markets and insurance markets. Retrieved from https://link.springer.com/article/10.1186/s40066-018-0200-6
- Kampa, K. (2010). Alternative risk transfer: The convergence of the insurance and capital markets. Insurance Studies Institute. Retrieved from https://ssrn.com/abstract=1646523
- Kekre, I., & Girish. (2017). Weather derivatives-concepts, challenges and feasibility. Retrieved from https://tapmi.finance/2017/03/10/weather-derivatives-concept-challenges-andfeasibility/#:~:text=A%20weather%20derivative%20is%20a,value%20from%20future%20weather%20conditions
- Kenneth, W. S., Prakashan, C. V., & Matin, Q. (2017). Small farmers’ preferences for weather index insurance: Insights from Kenya. Global Food Discussion Papers, 93, 2192-3248. Retrieved from https://link.springer.com/article/10.1186/s40066-018-0200-6
- Kotreshwar, G. (2015). Securitisation of rainfall risk in India: Designing rainfall derivative contracts based on standard metrics. Paper presented in International Conference on Emerging Trends in Finance Accounting, SDM-IMD, Mysuru, India.
- López Cabrera, B., Odening, M., & Ritter, M. (2013). Pricing of rainfall futures at the CME. Journal of Banking and Finance. Retrieved from https://doi. org/10.1016/j.jbankfin. 2013.07.042
- Mahato, S., & Saha, A. (2019). Weather index insurance: An alternative approach towards protecting farmers income in the face of weather aberration. International Journal of Chemical Studies, 7(3), 551-560.
- Mishra, P. K. (1995). Is rainfall insurance a new idea? Work revisited. Economic and Political Weekly, 30(25), A84-A88. Retrieved from https://www.jstor.org/stable/pdf/4402912.pdf
- Pu, C., Chen, Y., & Pan, X. (2018). Weather indexes, index insurance and weather index futures. Insurance Markets and Companies, 9(1), 2616-3551.
- Raju, S. S., & Chand, R. (2007). Progress and problems in agricultural insurance. Economic and Political Weekly, 42(21), 1905-1908. Retrieved from https://www.jstor.org/stable/4419629
- Sandor, R. L. (2012). Good derivatives: A story of financial and environmental innovation. John Wiley & Sons.
- Shivkumar, D., & Kotreshwar, G. (2013). Trading in weather risk transfer products–Reengineering rainfall indexation. International Journal of Business and Management Invention, 2(11), 33-41. Retrieved from https://www.ijitee.org/download/volume-8-issue-5/
- Skees, J. R., Barnett, B. J., & Murphy, A. G. (2008). Creating insurance markets for natural disaster risk in lower income countries: The potential role for securitization. Agricultural Finance Review, 68(1), 151-167. Retrieved from http://dx.doi.org/10.22004/ag.econ.9272
- Stoppa, A., & Hess, U. (2003). Design and use of weather derivatives in agricultural policies: The case of rainfall index insurance in Morocco. International Conference, Capri (Italy). Retrieved from http://citeseerx.ist.psu.edu/ viewdoc/download? doi=10.1.1.631.7422&rep=rep1&type=pdf
- Turvey, C. (1999). The essentials of rainfall derivatives and insurance. Working paper of Department of Agricultural Economics and Business WP99/06. Retrieved from https://scholar.google.com/scholar? hl=en&as_sdt=0%2C5&q=The+essentials+of+rainfall+derivatives+and+insurance&btnG=
- Veeramani, V. N., Maynard, L. J., & Skees, J. R. (2003). Assessment of the risk management potential of a rainfall based insurance index and rainfall options in Andhra Pradesh, India. American Agricultural Economics Association, pp. 27-30. doi:http://dx.doi.org/10.22004/ag.econ.22183
- Venkatesh, G. (2008). Crop insurance in India-study. Retrieved from https://www.insuranceinstituteofindia.com/downloads/Forms/III/Journal-2008/Journal08_%20 pg15-17_irda.pdf