TRENDS IN AGRICULTURAL INSURANCE: PAST, PRESENT AND FUTURE

GÜLSEVEN O., KÜÇÜKŞENEL S., Nas S. E.

ACTUAL PROBLEMS OF ECONOMICS, no.120, pp.316-320, 2011 (SSCI) identifier identifier

  • Publication Type: Article / Article
  • Publication Date: 2011
  • Journal Name: ACTUAL PROBLEMS OF ECONOMICS
  • Journal Indexes: Social Sciences Citation Index (SSCI), Scopus
  • Page Numbers: pp.316-320
  • Middle East Technical University Affiliated: Yes

Abstract

The article proves that due to the complexity of agricultural business, risks in agriculture are as important to the society as to the individual farmers. An unexpected drought can have catastrophic effects on the farms output which in turn will reduce the overall welfare of the society. Besides the occurrence of potential risks, the management of these risks is also a concern for the society. In this paper we discuss the common risk management techniques with special emphasis on insurance mechanisms. Past and current examples of agricultural insurance schemes are analyzed. The paper also offers a detailed analysis of trends and possible variations of existing insurance coverage systems in Europe.