PENENTUAN HARGA PREMI ASURANSI PERTANIAN BERBASIS INDEKS CURAH HUJAN DENGAN MENGGUNAKAN METODE PEMBANGKIT DISTRIBUSI EKSPONENSIAL CAMPURAN

Agricultural insurance is an insurance in agriculture sector that is relatively newly introduced in Indonesia. Agricultural insurance based on rainfall index is one of the risk management tool to keep farmers in case of crop failure. This study aims to determine the steps in determining the value of rainfall index on agricultural insurance and calculate the value of agricultural insurance premiums based on simulated rainfall index by Stochastic weather generator with mixed exponential distribution. The results of this study provide value if the amount of rainfall 103,71 mm so that the amount of premium payments equal to Rp19.016, and if the rainfall is high 128.35 mm then the amount of premium payment equal to Rp1.088.000.

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PENENTUAN NILAI PREMI ASURANSI PERTANIAN BERBASIS INDEKS CURAH HUJAN PADA KOMODITAS KEDELAI YANG DISIMULASI MENGGUNAKAN DISTRIBUSI WEIBULL

E-Jurnal Matematika ◽

10.24843/mtk.2020.v09.i04.p306 ◽

2020 ◽

Vol 9 (4) ◽

pp. 257

Author(s):

NI PUTU AYUNDA SURYA DEWI ◽

KOMANG DHARMAWAN ◽

KARTIKA SARI

Keyword(s):

Insurance Premium ◽

Weather Generator ◽

Rainfall Data ◽

Simulated Rainfall ◽

Crop Failure ◽

Agricultural Insurance ◽

Stochastic Weather Generator ◽

Insurance Premiums ◽

Rainfall Index ◽

Insurance Costs

Agricultural insurance protects farmers who experience crop failure. This study aims to calculate the value of agricultural insurance premium by applying simulated rainfall index-based using stochastic weather generator on soybean commodities in Negara sub-district. This study are used rainfall data to determine the probability of the transition, then perform rainfall simulations using the Stochastic Weather Generator method to obtain trigger values and continued with the calculation of agricultural insurance premiums. Results of this study provide the value that higher trigger is taken, the greater the insurance premium that must be paid. The value of insurance premiums to be paid is 4,18% - 5,66% of insurance costs Rp2.605.000,00.

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PERHITUNGAN HARGA PREMI ASURANSI PERTANIAN YANG BERBASIS INDEKS CURAH HUJAN MENGGUNAKAN METODE BLACK SCHOLES

E-Jurnal Matematika ◽

10.24843/mtk.2017.v06.i02.p161 ◽

2017 ◽

Vol 6 (2) ◽

pp. 161 ◽

Cited By ~ 1

Author(s):

IDA AYU GDE KHASMANA PUTRI ◽

KOMANG DHARMAWAN ◽

NI KETUT TARI TASTRAWATI

Keyword(s):

Risk Management ◽

Agricultural Sector ◽

Management Tool ◽

Agricultural Insurance ◽

High Rainfall ◽

Premium Payment ◽

Rainfall Index ◽

Black Scholes ◽

As If

Agricultural insurance is insurance in the agricultural sector which is relatively new introduced in Indonesia. Agricultural insurance is based on a rainfall index. It is a risk management tool that is relatively new in Indonesia. This study was purposed to determine the steps required in determining the value of the rainfall index on agricultural insurance and calculating the contract value of agricultural insurance which had to be paid on the agricultural insurance that is on rainfall index-based by using Black-Scholes method. The result of this research are if the amount of rainfall was 130,4 mm so the amount of premium payment equals Rp. 60.694, as well as if the amount of high rainfall was 179,9 mm so the amount of premium payment equals Rp.902.760.

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Zakah Fund Distribution Model Trough Takaful Institution for The Welfare of The Poor Farmer

Global Review of Islamic Economics and Business ◽

10.14421/grieb.2016.041-04 ◽

2016 ◽

Vol 4 (1) ◽

pp. 041

Author(s):

Intan Puspitasari ◽

Neneng Ela Fauziyyah ◽

Annisa Nur Salam

Keyword(s):

Financial Institutions ◽

Agricultural Sector ◽

Distribution Model ◽

Insurance Fund ◽

Crop Failure ◽

Agricultural Insurance ◽

Agriculture Sector ◽

The Poor ◽

Agricultural Business ◽

The Government

Various poverty alleviation programs are always launched by the government from year to year. But it is not able to change the state of this country to become more self-sufficient and prosperous. If explored further, the majority of people classified as poor are working as farmers. Therefore, it is necessary to alleviate poverty policy that focuses on the welfare of farmers. So that when the policy is successfully realized, the majority of the poor in Indonesia will be able to independently through the development of the agricultural sector. One of the problems faced by farmers is weak stimulus funds from financial institutions. Due to the agriculture sector is seen as high risk, the financial institutions tend to feel worried if that financing for the sector. In anticipation of losses on crop failure, it is important applied an insurance that serves to protect the farm. So that financial institutions have the courage to do the financing for the agricultural sector. Meanwhile, zakat is one of the Islamic public financial instruments with the potential to be developed. Zakat funds channeled to 8 asnaf, including for the poor. So, it is possible if the charity can be used as agricultural insurance fund for farmers who are poor. Based on the explanation, this paper is intended to offer a model of the distribution of zakat to the poor farmers through takaful. The hope when this model is applied, will invite many financial institutions in stimulating agricultural business funds. The final implications are the farmers’ productivity increased and the quantity of the poor in Indonesia will be reduced.

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Determinants of agricultural insurance adoption: evidence from farmers in the state of São Paulo, Brazil

RAUSP Management Journal ◽

10.1108/rausp-09-2019-0201 ◽

2020 ◽

Vol 55 (4) ◽

pp. 547-566

Author(s):

Marcelo José Carrer ◽

Rodrigo Lanna Franco da Silveira ◽

Marcela de Mello Brandão Vinholis ◽

Hildo Meirelles De Souza Filho

Keyword(s):

Risk Management ◽

Empirical Analysis ◽

Technical Assistance ◽

Sao Paulo ◽

The State ◽

Management Tool ◽

Farm Size ◽

São Paulo ◽

Agricultural Insurance ◽

Content Type

Purpose The purpose of this study is to investigate the determinants of agricultural insurance adoption by farmers of the state of São Paulo, Brazil. Design/methodology/approach Primary data from the 2015/2016 crop season was collected from a sample of 175 farmers. Logit econometric models were applied to identify the variables that affect the probability of agricultural insurance adoption. Findings The empirical results show that the education level, access to technical assistance, use of management tools and farm size positively affect the probability of adopting agricultural insurance. In addition, farmers who produce soybean and/or corn are more likely to use insurance. On the other hand, the higher the farmers’ propensity to take risk the lower the likelihood of using insurance. Research limitations/implications The empirical analysis is based on cross-sectional data of a sample of 175 farmers of the state of São Paulo. The use of panel data with a larger sample of farmers, considering a period of years, could provide additional information. Originality/value To the best of the knowledge, this is the first empirical analysis about determinants of agricultural insurance adoption by Brazilian farmers, considering behavioral factors. The findings provide useful insights for policymakers in formulating risk management programs in the Brazilian agricultural markets. A better understanding about the determinants of insurance adoption is also relevant for private companies that sell insurance to farmers. Therefore, the paper may contribute with the diffusion of rural insurance as risk management tool in Brazilian agriculture.

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Application of Markov Model-Based IoT in Agricultural Insurance and Risk Management

Mobile Information Systems ◽

10.1155/2021/8723258 ◽

2021 ◽

Vol 2021 ◽

pp. 1-8

Author(s):

Wei Chen ◽

Yuansheng Jiang

Keyword(s):

Risk Management ◽

Panel Data ◽

Internet Of Things ◽

Markov Model ◽

Agricultural Production ◽

Disaster Risk ◽

Management Tool ◽

The Internet ◽

Agricultural Insurance ◽

The Internet Of Things

As the foundation of the national economy, agriculture is a high-risk, weak industry. Affected by many factors, agricultural production is subject to catastrophe risks from time to time. Agricultural production is mainly faced with two major threats, natural disaster risk and market risk. As an effective risk management tool, the production and promotion of agricultural insurance have played an essential role in guaranteeing the development of the agricultural industry in some developed countries and major agricultural countries in the world. This article combines the Internet of Things and Markov model for agricultural insurance risk management. First, we combine the structure of the Internet of Things and select relevant statistical data. Then, we build a panel data system, starting from two perspectives in different regions and analyze agricultural insurance’s current development and characteristics at each stage. In addition, we use the Markov model to build a panel data model to explore the specific impact mechanisms deeply. We also study the effects of disaster risk levels in different regions on the development of agricultural insurance. After simulation verification, we believe that this model can effectively promote the balanced regional development of agricultural insurance.

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AGRICULTURAL INSURANCE IN ESTONIA – CURRENT SITUATION AND FARMERS’ WILLINGNESS TO USE CROP INSURANCE

Science and Studies of Accounting and Finance Problems and Perspectives ◽

10.15544/ssaf.2016.12 ◽

2016 ◽

Vol 10 (1) ◽

pp. 122-128 ◽

Cited By ~ 1

Author(s):

Maire Nurmet ◽

Katrin Lemsalu ◽

Anne Põder

Keyword(s):

Risk Management ◽

Risk Sharing ◽

Crop Insurance ◽

Insurance Companies ◽

Management Tool ◽

Agricultural Risk ◽

Agricultural Insurance ◽

Production Risk ◽

Farm Survey ◽

Willingness To Use

Farmers are strongly exposed to agricultural risks and have to adapt their strategies to the new uncertainties resulting from the changes in the EU agricultural policy. So far, risk sharing strategies in the context of production risk management have received little attention in Estonia. The aim of the paper is to examine the current availability of agricultural insurance in Estonia and the farmers’ attitudes towards insurance as a risk management tool. The analysis is based on a farm survey conducted in 2015. At first, an overview on available insurance products is given. Secondly, farmers’ interest towards insurance and the connection between farm characteristics and the interest, is studied. The results show that availability of agricultural risk management instruments is limited in Estonia. Agricultural insurance includes protection against livestock production risks provided by two insurance companies, and there are no instruments for crop insurance available. The results of farm survey show that farmers’ interest towards crop-yield and crop income insurance is relatively limited. The main reasons cited by the farmers are too high insurance premiums and the lack of trust in the insurance provider honouring the insurance claim. Younger farmers were more interested in insurance.

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