Designing a whole-farm revenue insurance for agricultural crops in Zanjan province of Iran | Zendy

Mohammad Ghahremanzadeh | Zendy; Rassul Mohammadrezaei | Zendy; Ghader Dashti | Zendy; Moharram Ainollahi | Zendy

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Designing a whole-farm revenue insurance for agricultural crops in Zanjan province of Iran

Author(s) -

Mohammad Ghahremanzadeh,

Rassul Mohammadrezaei,

Ghader Dashti,

Moharram Ainollahi

Publication year - 2018

Publication title -

economía agraria y recursos naturales

Language(s) - English

Resource type - Journals

eISSN - 2174-7350

pISSN - 1578-0732

DOI - 10.7201/earn.2017.02.02

Subject(s) - crop insurance , parametric statistics , revenue , nonparametric statistics , yield (engineering) , agricultural science , agriculture , agricultural economics , actuarial science , economics , agricultural engineering , environmental science , engineering , econometrics , business , mathematics , statistics , geography , finance , materials science , archaeology , metallurgy

The purpose of this article is to design and empirically evaluate the Whole Farm Insurance (WFI) over the conventional insurance programs in Zanjan province of Iran. Historical farm-level and county-level data were used to estimate yield and price density functions. Both parametric and non-parametric methods were applied for predicting the future values and the PQH simulation method was utilized to calculate premium rates. Results revealed that loss ratios of the WFI are lower for farmers who insured more than one crop. Additionally, utilizing WFI reduces premiums. Moreover, premiums obtained from nonparametric method are relatively lower compared to the parametric approach.

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