Развој и примена модела осигурања врeдности производње пољопривредног газдинства у Србији

In recent years, we have witnessed accelerated climate change. Unpredictable climatic events and natural disasters have had a great impact on the lives of all people on our planet since ancient times, as well as on various economic activities. Climate changes especially have an impact on the results achieved in agriculture, specifically in crop production, given that the process of crop production takes place in an open area, where it is largely unprotected and exposed to a large number of natural risks. On the other hand, extremely unpredictable and very frequent fluctuations in the market prices of most agricultural crops greatly affect the stability of income in agriculture. Therefore, agricultural producers engaged in plant production lack, on the one hand, the stability of yields, and on the other hand, the stability of market prices. For these reasons, the issue of risk management is increasingly topical in contemporary agro-economic literature. As far as crop production is concerned, crop insurance is the most common instrument for risk management. During the previous period, some of the classic insurance models showed numerous shortcomings. Risk management in agricultural production, primarily crop production, has not been fully resolved, so there is a constant need to develop new insurance models. The emergence of modern risk management in agriculture is increasingly focused on ensuring the total income (production value) of the farm. Bearing in mind the aforementioned facts, especially the need of farmers to ensure the stability of their production, the aim of this research is to present the theoretical basis of Whole Farm Revenue Insurance, and also to analyze the possibility of applying this model in Serbia. The analysis was carried out on the basis of simulation, specifically on the example of an agricultural farm. Standard statistical-mathematical instumentarium and various calculative procedures were used to obtain the required results and make certain conclusions. Also, the trial methodology was applied to analyze the impact of irrigation and the application of mineral fertilizers on the yield of corn and soybeans. This research was completed by defining the production functions, as well as by calculating the economically optimal and maximum yield of the mentioned crops. The research also included a comparative analysis of the most common crop production insurance systems in Serbia and other countries, as well as an analysis of the effects of state subsidies on the increase in the number of insured persons and insured areas. The research results showed that negative selection and moral hazard are still the main problems that exist in the insurance market. Also, the results of the survey showed that one of the main reasons for the very small percentage of insured farmers is that the damage assessment is non-transparent, inadequate, and very often late. The obtained conclusions indicate that it is necessary to increase insurance premium subsidies, improve the damage assessment procedure, speed up the damage compensation process, expand the network of reference meteorological stations, etc. The general conclusion is that with a clear strategy at the state level, the establishment of a legal framework and financial incentives, the analyzed insurance model could be successfully implemented both in Serbia and in other parts of the world.