Microinsurance : A Case Study of the Indian Rainfall Index InsuranceMarket

Giné ; , Xavier ; Menand, Lev ; Townsend, Robert ; Vickery, James

关键词: ACCESS TO INFORMATION;    ACCOUNTING;    ADMINISTRATIVE COSTS;    ADMINISTRATIVE DATA;    AGRICULTURAL ECONOMICS;   

DOI  :  10.1596/1813-9450-5459
RP-ID  :  WPS5459

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Rainfall index insurance provides apayout based on measured local rainfall during key phases ofthe agricultural season, and in principle can help ruralhouseholds diversify a key source of idiosyncratic risk.This paper describes basic features of rainfall insurancecontracts offered in India since 2003, and documentsstylized facts about market demand and the distribution ofpayouts. The authors summarize the results of previousresearch on this market, which provides evidence that price,liquidity constraints, and trust all present significantbarriers to increased take-up. They also discuss potentialfuture prospects for rainfall insurance and other indexinsurance products.