Economics of Index-based Flood Insurance (IBFI): scenario analysis and stakeholder perspectives from South Asia
The International Water Management Institute (IWMI) has recently developed an innovative Index-based Flood Insurance (IBFI) product to facilitate the scaling of flood insurance particularly in vulnerable economies, to provide risk cover to poor farmers against crop losses that occur due to floods. W...
| Autores principales: | , |
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| Formato: | Artículo preliminar |
| Lenguaje: | Inglés |
| Publicado: |
International Water Management Institute
2021
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/115920 |
| _version_ | 1855530172526100480 |
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| author | Malik, Ravinder Paul Singh Amarnath, Giriraj |
| author_browse | Amarnath, Giriraj Malik, Ravinder Paul Singh |
| author_facet | Malik, Ravinder Paul Singh Amarnath, Giriraj |
| author_sort | Malik, Ravinder Paul Singh |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | The International Water Management Institute (IWMI) has recently developed an innovative Index-based Flood Insurance (IBFI) product to facilitate the scaling of flood insurance particularly in vulnerable economies, to provide risk cover to poor farmers against crop losses that occur due to floods. While the product developed is technically very sound, the economics of such an intervention is important to ensure the large-scale acceptance and adoption of the product by different stakeholders and for its sustenance in the long term. This paper attempts at conducting an ex ante assessment of the economics of IBFI from the perspectives of the three main stakeholders: farmers, the insurance company and the government. The paper discusses the methodological challenges and data issues encountered in undertaking an economic analysis of such a product. The issues and processes involved have been empirically demonstrated using a theoretical case study based on a synthesis of information drawn from a host of sources and certain assumptions. Field-based data are now being collected and analyzed from the locations where IBFI has recently been piloted by IWMI. This will help in further refining the process of economic evaluation and identifying the experiences of different stakeholders. |
| format | Artículo preliminar |
| id | CGSpace115920 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2021 |
| publishDateRange | 2021 |
| publishDateSort | 2021 |
| publisher | International Water Management Institute |
| publisherStr | International Water Management Institute |
| record_format | dspace |
| spelling | CGSpace1159202025-11-07T07:59:00Z Economics of Index-based Flood Insurance (IBFI): scenario analysis and stakeholder perspectives from South Asia Malik, Ravinder Paul Singh Amarnath, Giriraj flooding agricultural insurance crop insurance economic analysis stakeholders disaster risk management farmers state intervention flood damage crop losses compensation subsidies insurance premiums cost benefit analysis economic viability sustainability villages remote sensing datasets models developing countries case studies The International Water Management Institute (IWMI) has recently developed an innovative Index-based Flood Insurance (IBFI) product to facilitate the scaling of flood insurance particularly in vulnerable economies, to provide risk cover to poor farmers against crop losses that occur due to floods. While the product developed is technically very sound, the economics of such an intervention is important to ensure the large-scale acceptance and adoption of the product by different stakeholders and for its sustenance in the long term. This paper attempts at conducting an ex ante assessment of the economics of IBFI from the perspectives of the three main stakeholders: farmers, the insurance company and the government. The paper discusses the methodological challenges and data issues encountered in undertaking an economic analysis of such a product. The issues and processes involved have been empirically demonstrated using a theoretical case study based on a synthesis of information drawn from a host of sources and certain assumptions. Field-based data are now being collected and analyzed from the locations where IBFI has recently been piloted by IWMI. This will help in further refining the process of economic evaluation and identifying the experiences of different stakeholders. 2021-11-09 2021-11-09T15:17:39Z 2021-11-09T15:17:39Z Working Paper https://hdl.handle.net/10568/115920 en Open Access application/pdf International Water Management Institute Malik, Ravinder Paul Singh; Amarnath, Giriraj. 2021. Economics of Index-based Flood Insurance (IBFI): scenario analysis and stakeholder perspectives from South Asia. Colombo, Sri Lanka: International Water Management Institute (IWMI). 34p. (IWMI Working Paper 199) [doi: https://doi.org/10.5337/2021.228] |
| spellingShingle | flooding agricultural insurance crop insurance economic analysis stakeholders disaster risk management farmers state intervention flood damage crop losses compensation subsidies insurance premiums cost benefit analysis economic viability sustainability villages remote sensing datasets models developing countries case studies Malik, Ravinder Paul Singh Amarnath, Giriraj Economics of Index-based Flood Insurance (IBFI): scenario analysis and stakeholder perspectives from South Asia |
| title | Economics of Index-based Flood Insurance (IBFI): scenario analysis and stakeholder perspectives from South Asia |
| title_full | Economics of Index-based Flood Insurance (IBFI): scenario analysis and stakeholder perspectives from South Asia |
| title_fullStr | Economics of Index-based Flood Insurance (IBFI): scenario analysis and stakeholder perspectives from South Asia |
| title_full_unstemmed | Economics of Index-based Flood Insurance (IBFI): scenario analysis and stakeholder perspectives from South Asia |
| title_short | Economics of Index-based Flood Insurance (IBFI): scenario analysis and stakeholder perspectives from South Asia |
| title_sort | economics of index based flood insurance ibfi scenario analysis and stakeholder perspectives from south asia |
| topic | flooding agricultural insurance crop insurance economic analysis stakeholders disaster risk management farmers state intervention flood damage crop losses compensation subsidies insurance premiums cost benefit analysis economic viability sustainability villages remote sensing datasets models developing countries case studies |
| url | https://hdl.handle.net/10568/115920 |
| work_keys_str_mv | AT malikravinderpaulsingh economicsofindexbasedfloodinsuranceibfiscenarioanalysisandstakeholderperspectivesfromsouthasia AT amarnathgiriraj economicsofindexbasedfloodinsuranceibfiscenarioanalysisandstakeholderperspectivesfromsouthasia |