Crop insurance

Insuring crops provides a safety net during crop failures. All villages surveyed in the studied region of India reported having insurance with coverage of 20-25% of households in each case. Among farmers not taking insurance, 3% cited non-availability of insurance, 25% reported that they are not aware of the details of schemes, and 16% felt that the schemes are too expensive.

Climate Related Risk

Increased variability of crop yields, Reduction in crop yields

Form of Option

Economic

Country of Origin

India

Beneficiaries

Resource-dependent people (e.g. farmers, fishers, miners)

Implementation

The option exists in a real setting and was not created as part of the project.

Institution / Legal Reach

Change in economic instruments (e.g. subsidies, taxes)