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- Title
AGRICULTURAL INSURANCE IN ESTONIA - CURRENT SITUATION AND FARMERS' WILLINGNESS TO USE CROP INSURANCE.
- Authors
Nurmet, Maire; Lemsalu, Katrin; Põder, Anne
- Abstract
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.
- Subjects
AGRICULTURAL insurance; CROP insurance; FARMERS
- Publication
Science & Studies of Accounting & Finance: Problems & Perspectives / Apskaitos ir Finansu Mokslas ir Studijos: Problemos ir Perspectyvos, 2016, Vol 10, Issue 1, p122
- ISSN
2029-1175
- Publication type
Article
- DOI
10.15544/ssaf.2016.12