A case study on livestock insurance scheme
2000
This article explores a livestock insurance scheme in Nepal. The scheme is very beneficial to members, including increasing production of milk, decrease in the loan delinquency, decrease in livestock death.The article concludes that:the livestock insurance scheme is member managed and controlled small schememembers and management are confident to run the scheme in a sustainable manner even without Government subsidiesalthough the IS is presently getting 50% subsidy from government; the financial position shows that the 5% premium collected from members is sufficient to cover the present level of claimsthe IS does not have reserve to cover the risks in the case of epidemicthe livestock insurance model implemented by SFCL is simple and as per the need of rural people of Nepal; It can be implemented in other community based savings and credit organization and MFIs in the country and in the regionThe article recommends that:separate and up to date accounting and record keeping systemincrease the membershipdecrease the premium for the non-loanee members on par with loanee membersthe insured amount should be raised to at least 75% of the value of the livestock irrespective of the amount of loan sanctionedreduced annual premium for renewalreversal of the decision on refund of the premium if not claimedtraining to Veterinary assistant and livestock insurance sub committeecreation of reserve for future security
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