Kazakhstan : Agricultural Insurance Feasibility Study, Volume 2. Annexes

World Bank

Kazakhstan : Agricultural Insurance Feasibility Study, Volume 2. Annexes

2014

World Bank

Agriculture is a very important socioeconomic sector in Kazakhstan. The Government of the Republic of Kazakhstan (GRK) introduced a national compulsory crop insurance scheme in 2005 in order to provide grain producers and other farmers with a minimum level of protection against catastrophic climatic events. The overall objective of the current study is to assist the GRK in improving the existing mandatory crop insurance program. The study aims to identify sustainable market-based alternatives to the current crop insurance system in Kazakhstan. In this regard, all of the options for improving the current system that were developed under this study are market based and take into account global experience and the best insurance and reinsurance industry practices for agricultural insurance. The study follows the principles established in the agriculture risk management framework developed by the World Bank. The study focuses mainly on spring wheat crop production in the principal growing regions of Kazakhstan. The study is set out in six chapters. Chapter one gives introduction and objectives of the study. Chapter two presents an overview of agricultural production systems and markets in Kazakhstan, followed by an assessment of the climatic hazards and other risks affecting spring wheat in the country s main crop areas. Chapter three reviews the structure and performance of the current mandatory crop insurance system in Kazakhstan and identifies a series of institutional, operational, technical, and financial drawbacks of the current system. Chapter four presents a phased strategy and a series of options and recommendations for the GRK to consider for the introduction of market based solutions that aim to strengthen the current scheme. Chapter five explores the opportunities for developing new crop insurance products in Kazakhstan, including prefeasibility analyses for area-yield index insurance (AYII), weather index insurance (WII), and named-peril hail insurance for selected rayons. Finally, chapter six deals with the challenges of tailoring crop insurance to the needs of lower-income smaller farmers.

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AGROVOC Keywords

agents agribusiness agricultural insurance agricultural products agricultural sector agriculture allocation aquaculture cereals climate compensation cooperatives cotton crop damage crop husbandry crop insurance crop losses crop production crop yield crops disasters economic growth exchange rate family farms fao farms field crops financial institutions food crops food security fruit crops grain grain crops grazing income innovation layering livestock insurance meat oilseed crops oilseeds production costs production systems risk assessment risk management risk transfer salvage savings seed single crop small farmers sowing spring spring wheat underwriting yields

Bibliographic information

Publisher

Washington, DC

Other Subjects

Financial support; Basis risk; Soils; Crop insurance premium; Crop insurance scheme; Excess of loss reinsurance; Multiple peril crop insurance; Financial contributions; Grain farming; Small farmer; Commodity; Husbandry; Preliminary estimates; Grain production; Crop output; Average yields; Yield loss; Extreme drought; Private insurance; Mutual insurance companies; Insurers; Insurance portfolio; International reinsurance; Crop risk; Insurance policy; Uncertainties; Insurance reserves; Group insurance; Average annual rainfall; Agricultural risk; Solvency requirements; Reinsurance contract; Compulsory insurance; Farmer associations; Crop yields; Stop loss reinsurance; Portfolio; Proportional reinsurance; Indemnity; Moral hazard; Economic theory; Financial data; Underwriting standards; Catastrophe risk financing; Farm; Crop insurance product; Agricultural crop production; Reinsurance markets; Insurance market; Loss ratio; Quota share reinsurance; Applications; Insurance associations; Capital requirements; Financial loss; Insurance association; Regulatory framework; Insurance products; Coinsurance; Annual crops; Crop type; Programs; Crop loss; Financial challenges; Premiums; Catastrophe reinsurance; Insurance regulator; Crop insurance program; Agricultural insurance system; Livestock grazing; Insurance claims; Wheat prices; Policy makers; Private insurance companies; Growing season; Caps; Commercial farmers; Crop; Insurance policies; Level playing field; Reinsurance; Reinsurers; Insurance industry; Insurance system; Crop area; Policyholders; Coverage; Financial performance; Crop failure; Solvency; Horticultural crops; Commercial insurance; Life insurance companies; Climatic conditions; Crop production systems; Inspections; Agricultural producers; Scenarios; Insurance pools; Marginal farmers; Crop season; Insurance premium rates; Actual yields; Poor farmers; Grains; Insurance law; Total cost; Insurance company; Non-life insurance; Agricultural insurance scheme; Agricultural insurance schemes; Insurance cover; Feasibility; Reinsurance agreement; Insurance sector

Language

English

In AGRIS since: 2016-03-15

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Kazakhstan : Agricultural Insurance Feasibility Study, Volume 2. Annexes

2014

AGROVOC Keywords

Bibliographic information