Kenya Toward a National Crop and Livestock Insurance Program

World Bank Group

Kenya Toward a National Crop and Livestock Insurance Program | Background Report

2015

World Bank Group

At the request of the government of Kenya and under its guidance, a team of national and international experts conducted an appraisal of different agricultural insurance options for Kenya.This appraisal, as set out in this document and the accompanying technical analysis, lays out the costs and benefits of developing large-scale agricultural insurance that involves both the public and private spheres.The analysis considers potential structures for large-scale agricultural insurance in Kenya, the fiscal cost to the government of Kenya, and the economic benefits for farmers and pastoralists.In order for it to partner with the private sector to prepare and implement a large scale agricultural insurance program, the government should consider taking the following next steps.The government of Kenya may build on there commendations by the Program Steering Committee to take the lead in formulating a national policy on agriculture insurance, in cooperation with county administrations and private insurance companies. The government of Kenya may develop a road map for establishing the institutions required for large-scale agricultural insurance programs, with the goal of covering at least a fifth of Kenya’s agricultural producers. As next steps for establishing livestock insurance, the government of Kenya may decide how to integrate the proposed insurance product with other existing protection mechanisms. As next steps for crop insurance, the government of Kenya may seek consultations with agricultural banks and work with private sector insurers to develop a data audit system acceptable to international reinsurers.

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Palabras clave de AGROVOC

agents agricultural insurance allocation climate climate change climate variability consumer protection consumption credit crop insurance demand disasters economic analysis economic growth finance financial institutions fixed costs household consumption incentives income inflation information insurance interest rates livestock insurance losses markets mitigation models policies prices pricing regulations risk risk analysis risk assessment risk management risk reduction risk transfer savings supply sustainability total costs transaction costs underwriting welfare

Información bibliográfica

Editorial

World Bank, Washington, DC

Otras materias

Market; Crop insurance program; Insurance payout; Lower demand; Insurance pools; Reinsurance contracts; Reinsurance; Interest rate; Insurance company; Insurance products; Applications; Risk premium; Insurable interest; Private insurance companies; Rates; Inspections; Microinsurance; Utility function; Reinsurers; Insurance payments; Portfolio; Indemnity; Scenarios; Moral hazard; Risks; Coverage; Cost of capital; Reinsurance markets; Disaster risk financing; Subsistence farmers; Total cost; Insurance markets; Cost-benefit; Impacts of climate change; Long-term financing; Premiums; Policyholders; Insurance risk; Insurance product; Financial costs; Feasibility; Economic costs; Private insurance; Insurance policy; Insurance agents; Benefits; Policy; Legal framework; Insurance claims; Producer price; Insurance industry; Impact analysis; Program costs; Insurance contracts; Insurance companies; Competitiveness; Risk management process; Lump sum; Cost-benefit analysis; Insurance sector; Insurance solutions; Insurance values; Claims; Financial sector; Insurers; Cost per household; Insurance options; Revenues; Weather insurance; Loss; Welfare analysis; Dynamic model; Risk sharing; Asymmetric information; Financial capacity; Price; Jobs; Regulatory framework; Financial support; Investments; Costs of insurance; Insurance coverage; Insurance schemes; Coinsurance; Caps; Insurance market; Risk managers; Basis risk; Economic model; Financial losses; Insurance cover; Insurance underwriters; International reinsurance; Contingency planning; Beneficiaries; Insurance premium rates; Commercial insurance; Cost of insurance; Insurance regulations; Interest; Indemnity insurance; Policy analysis; Extreme drought; Insurance scheme; Net cost; Insurance contract; Reinsurance companies; Value; Insurance premiums; Insurance premium; Insurance policies; Programs

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Inglés

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application/pdf, text/plain

Licencia

CC BY 3.0 IGO, http://creativecommons.org/licenses/by/3.0/igo/, World Bank

Tipo

Report; Rapport; Informe

En AGRIS desde: 2024-10-18

Fecha de modificación: 2025-05-23

Formato: Dublin Core

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