India - Crop Insurance Non-Lending Technical Assistance : Summary of Policy Suggestions
At the request of Government of India (GOI), the World Bank has provided technical assistance to the public insurance company, Agriculture Insurance Company of India (AICI) to develop an actuarially sound rating methodology and improve the contract...
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| Format: | Other Agricultural Study |
| Language: | English |
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World Bank
2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000386194_20110503030736 http://hdl.handle.net/10986/2749 |
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okr-10986-2749 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCESS TO RURAL FINANCE AGRICULTURAL INSURANCE AUDITING AUDITS BANKING SYSTEM BANKS BASIS RISK BORROWING BUDGET MANAGEMENT BUDGETING CAPACITY BUILDING CASH FLOW CATASTROPHE LOSS CATASTROPHIC LOSSES CENTRAL GOVERNMENTS CLAIM PAYMENT CLAIM PAYMENTS CLAIMS PROCESSING CONTINGENT DEBT CONTINGENT LIABILITY CONTRACT DESIGN COST-SHARING COVERAGE CREDIT COOPERATIVES CREDITORS CROP FAILURE CROP FAILURES CROP INSURANCE CROP INSURANCE SCHEME DEBT DEBTS DIRECT CREDIT DISASTER DISASTER REDUCTION FACTORING FARMER FARMERS FINANCIAL INSTITUTIONS FINANCIAL LIABILITY FINANCIAL STRESS FINANCIAL SUSTAINABILITY FORMAL BANKING FORMAL BANKING SYSTEM GLOBAL CAPITAL GLOBAL CAPITAL MARKET GOVERNMENT FINANCING GOVERNMENT SUBSIDIES GOVERNMENT SUBSIDY HOUSEHOLDS INDEMNITIES INDEMNITY INDEMNITY PAYMENT INDEMNITY PAYMENTS INFORMAL CREDIT INSTITUTIONAL CAPACITY INSTITUTIONAL CAPACITY BUILDING INSTRUMENT INSURABILITY INSURANCE COMPANY INSURANCE POLICY INSURANCE PREMIUM INSURANCE PREMIUM RATES INSURANCE PREMIUMS INSURANCE PRODUCT INSURANCE PRODUCTS INSURER INSURERS INTERNATIONAL STRATEGY FOR DISASTER REDUCTION LANDSLIDE LINE OF CREDIT LOAN LOAN FACILITY LOSS RATIO MARKET INFRASTRUCTURE MARKET SHARES MOBILE PHONE MORAL HAZARD OUTREACH POLITICAL ECONOMY PORTFOLIO PORTFOLIO RISK PRIVATE REINSURANCE PRODUCTIVITY PROGRAMS PUBLIC INSURANCE REINSURANCE REINSURANCE MARKETS REINSURERS RESERVES RETURN RISK ANALYSIS RISK CAPITAL RISK EXPOSURE RISK MITIGATION RISK PROFILE RISK SHARING RISK TRANSFER RURAL CREDIT RURAL CREDIT COOPERATIVES RURAL FINANCE SETTLEMENT SOCIAL WELFARE STOP LOSS REINSURANCE SUSTAINABILITY TECHNICAL ASSISTANCE TRANSACTION TRANSPARENCY TRANSPORT VILLAGE VILLAGES |
| spellingShingle |
ACCESS TO RURAL FINANCE AGRICULTURAL INSURANCE AUDITING AUDITS BANKING SYSTEM BANKS BASIS RISK BORROWING BUDGET MANAGEMENT BUDGETING CAPACITY BUILDING CASH FLOW CATASTROPHE LOSS CATASTROPHIC LOSSES CENTRAL GOVERNMENTS CLAIM PAYMENT CLAIM PAYMENTS CLAIMS PROCESSING CONTINGENT DEBT CONTINGENT LIABILITY CONTRACT DESIGN COST-SHARING COVERAGE CREDIT COOPERATIVES CREDITORS CROP FAILURE CROP FAILURES CROP INSURANCE CROP INSURANCE SCHEME DEBT DEBTS DIRECT CREDIT DISASTER DISASTER REDUCTION FACTORING FARMER FARMERS FINANCIAL INSTITUTIONS FINANCIAL LIABILITY FINANCIAL STRESS FINANCIAL SUSTAINABILITY FORMAL BANKING FORMAL BANKING SYSTEM GLOBAL CAPITAL GLOBAL CAPITAL MARKET GOVERNMENT FINANCING GOVERNMENT SUBSIDIES GOVERNMENT SUBSIDY HOUSEHOLDS INDEMNITIES INDEMNITY INDEMNITY PAYMENT INDEMNITY PAYMENTS INFORMAL CREDIT INSTITUTIONAL CAPACITY INSTITUTIONAL CAPACITY BUILDING INSTRUMENT INSURABILITY INSURANCE COMPANY INSURANCE POLICY INSURANCE PREMIUM INSURANCE PREMIUM RATES INSURANCE PREMIUMS INSURANCE PRODUCT INSURANCE PRODUCTS INSURER INSURERS INTERNATIONAL STRATEGY FOR DISASTER REDUCTION LANDSLIDE LINE OF CREDIT LOAN LOAN FACILITY LOSS RATIO MARKET INFRASTRUCTURE MARKET SHARES MOBILE PHONE MORAL HAZARD OUTREACH POLITICAL ECONOMY PORTFOLIO PORTFOLIO RISK PRIVATE REINSURANCE PRODUCTIVITY PROGRAMS PUBLIC INSURANCE REINSURANCE REINSURANCE MARKETS REINSURERS RESERVES RETURN RISK ANALYSIS RISK CAPITAL RISK EXPOSURE RISK MITIGATION RISK PROFILE RISK SHARING RISK TRANSFER RURAL CREDIT RURAL CREDIT COOPERATIVES RURAL FINANCE SETTLEMENT SOCIAL WELFARE STOP LOSS REINSURANCE SUSTAINABILITY TECHNICAL ASSISTANCE TRANSACTION TRANSPARENCY TRANSPORT VILLAGE VILLAGES World Bank India - Crop Insurance Non-Lending Technical Assistance : Summary of Policy Suggestions |
| geographic_facet |
South Asia South Asia Asia India |
| description |
At the request of Government of India
(GOI), the World Bank has provided technical assistance to
the public insurance company, Agriculture Insurance Company
of India (AICI) to develop an actuarially sound rating
methodology and improve the contract design of the
area-yield based National Agriculture Insurance Scheme
(NAIS) to reduce delays in claim settlement; to design and
ratemaking of new weather index insurance products under the
weather based crop insurance scheme; and to perform a risk
assessment of AICI's insurance portfolio and to suggest
cost-effective risk financing solutions (including
reinsurance). Crop insurance can contribute to increasing
access to rural finance and is required to ensure a more
viable agriculture credit business. An improved crop
insurance program supports and complements other critical
agriculture sector related measures, including the reform of
rural credit cooperatives, agriculture marketing reforms and
efforts to improve agriculture extension and productivity. A
better understanding of risks entailed in particular crops
in particular areas which can be ascertained through
assessing the actuarially sound insurance premium rates for
the crop can also be a significant input to agriculture
policy at sub-national and national levels. Similarly, crop
insurance is vital for creditors, such as banks and rural
cooperatives, which otherwise face significant risks in
agriculture lending that are otherwise difficult to price
given political economy factors and the underlying fragile
economics of agriculture. The inherent risks in agriculture
in India with its high degree of dependence on rain-fed
cultivation, a well developed and widely used agriculture
insurance program is critical from a farmer perspective.
Without this, farmers run the risk of crop failures, which
in turn, lead to inability to service their debts. Since
crop cycles often follow seamlessly from one season to the
next, delinquency on account of one crop could mean being
ruled out of the formal banking system for the next crop cycle. |
| format |
Economic & Sector Work :: Other Agricultural Study |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
India - Crop Insurance Non-Lending Technical Assistance : Summary of Policy Suggestions |
| title_short |
India - Crop Insurance Non-Lending Technical Assistance : Summary of Policy Suggestions |
| title_full |
India - Crop Insurance Non-Lending Technical Assistance : Summary of Policy Suggestions |
| title_fullStr |
India - Crop Insurance Non-Lending Technical Assistance : Summary of Policy Suggestions |
| title_full_unstemmed |
India - Crop Insurance Non-Lending Technical Assistance : Summary of Policy Suggestions |
| title_sort |
india - crop insurance non-lending technical assistance : summary of policy suggestions |
| publisher |
World Bank |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000386194_20110503030736 http://hdl.handle.net/10986/2749 |
| _version_ |
1764385890011971584 |
| spelling |
okr-10986-27492021-04-23T14:02:04Z India - Crop Insurance Non-Lending Technical Assistance : Summary of Policy Suggestions World Bank ACCESS TO RURAL FINANCE AGRICULTURAL INSURANCE AUDITING AUDITS BANKING SYSTEM BANKS BASIS RISK BORROWING BUDGET MANAGEMENT BUDGETING CAPACITY BUILDING CASH FLOW CATASTROPHE LOSS CATASTROPHIC LOSSES CENTRAL GOVERNMENTS CLAIM PAYMENT CLAIM PAYMENTS CLAIMS PROCESSING CONTINGENT DEBT CONTINGENT LIABILITY CONTRACT DESIGN COST-SHARING COVERAGE CREDIT COOPERATIVES CREDITORS CROP FAILURE CROP FAILURES CROP INSURANCE CROP INSURANCE SCHEME DEBT DEBTS DIRECT CREDIT DISASTER DISASTER REDUCTION FACTORING FARMER FARMERS FINANCIAL INSTITUTIONS FINANCIAL LIABILITY FINANCIAL STRESS FINANCIAL SUSTAINABILITY FORMAL BANKING FORMAL BANKING SYSTEM GLOBAL CAPITAL GLOBAL CAPITAL MARKET GOVERNMENT FINANCING GOVERNMENT SUBSIDIES GOVERNMENT SUBSIDY HOUSEHOLDS INDEMNITIES INDEMNITY INDEMNITY PAYMENT INDEMNITY PAYMENTS INFORMAL CREDIT INSTITUTIONAL CAPACITY INSTITUTIONAL CAPACITY BUILDING INSTRUMENT INSURABILITY INSURANCE COMPANY INSURANCE POLICY INSURANCE PREMIUM INSURANCE PREMIUM RATES INSURANCE PREMIUMS INSURANCE PRODUCT INSURANCE PRODUCTS INSURER INSURERS INTERNATIONAL STRATEGY FOR DISASTER REDUCTION LANDSLIDE LINE OF CREDIT LOAN LOAN FACILITY LOSS RATIO MARKET INFRASTRUCTURE MARKET SHARES MOBILE PHONE MORAL HAZARD OUTREACH POLITICAL ECONOMY PORTFOLIO PORTFOLIO RISK PRIVATE REINSURANCE PRODUCTIVITY PROGRAMS PUBLIC INSURANCE REINSURANCE REINSURANCE MARKETS REINSURERS RESERVES RETURN RISK ANALYSIS RISK CAPITAL RISK EXPOSURE RISK MITIGATION RISK PROFILE RISK SHARING RISK TRANSFER RURAL CREDIT RURAL CREDIT COOPERATIVES RURAL FINANCE SETTLEMENT SOCIAL WELFARE STOP LOSS REINSURANCE SUSTAINABILITY TECHNICAL ASSISTANCE TRANSACTION TRANSPARENCY TRANSPORT VILLAGE VILLAGES At the request of Government of India (GOI), the World Bank has provided technical assistance to the public insurance company, Agriculture Insurance Company of India (AICI) to develop an actuarially sound rating methodology and improve the contract design of the area-yield based National Agriculture Insurance Scheme (NAIS) to reduce delays in claim settlement; to design and ratemaking of new weather index insurance products under the weather based crop insurance scheme; and to perform a risk assessment of AICI's insurance portfolio and to suggest cost-effective risk financing solutions (including reinsurance). Crop insurance can contribute to increasing access to rural finance and is required to ensure a more viable agriculture credit business. An improved crop insurance program supports and complements other critical agriculture sector related measures, including the reform of rural credit cooperatives, agriculture marketing reforms and efforts to improve agriculture extension and productivity. A better understanding of risks entailed in particular crops in particular areas which can be ascertained through assessing the actuarially sound insurance premium rates for the crop can also be a significant input to agriculture policy at sub-national and national levels. Similarly, crop insurance is vital for creditors, such as banks and rural cooperatives, which otherwise face significant risks in agriculture lending that are otherwise difficult to price given political economy factors and the underlying fragile economics of agriculture. The inherent risks in agriculture in India with its high degree of dependence on rain-fed cultivation, a well developed and widely used agriculture insurance program is critical from a farmer perspective. Without this, farmers run the risk of crop failures, which in turn, lead to inability to service their debts. Since crop cycles often follow seamlessly from one season to the next, delinquency on account of one crop could mean being ruled out of the formal banking system for the next crop cycle. 2012-03-19T10:12:34Z 2012-03-19T10:12:34Z 2011-04-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000386194_20110503030736 http://hdl.handle.net/10986/2749 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank Economic & Sector Work :: Other Agricultural Study South Asia South Asia Asia India |