Managing Risk in Livestock Farming: The Role of Insurance Companies

Jokhio, Sanam; Abro, Muhammad Moinuddin Qazi; Alaali, Lamya

doi:10.5430/ijfr.v7n2p64

Cited by 5 publications

(5 citation statements)

References 14 publications

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“…Therefore, livestock farmers had a highest demand for the advisory services on preparation of project proposal regarding commercial livestock farming or dairy entrepreneurship. Jokhio et al (2016) argued the importance of the livestock insurance to cope up with the risk involved in livestock farming. There was poor coverage of livestock insurance in the study area (ICDP Karnal, 2017).…”

Section: Resultsmentioning

confidence: 99%

Demand driven livestock extension services: Farmers' participatory assessment in Eastern Haryana

VERMA

Garai

Maiti

et al. 2020

Indian J of Anim Sci

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India is the house of the largest livestock population as well as highest milk producing country of the world. But, productivity of the large ruminant, i.e. cattle and buffalo is far below the world standard. Hence, the delivery of livestock extension services is emerging as an important priority area for enhancing and optimizing livestock production and productivity. At present livestock farming in India is at transition phase, i.e. transforming from subsistence to a commercial venture. Therefore, 100 livestock farmers and 60 commercial livestock farmers were randomly selected from the two highly crossbred populated districts of eastern Haryana to understand their demand for livestock extension services particularly livestock extension services other than the routine one. Incomplete Order of Merit Rating as Suggested by Garret was used to assess the degree of importance of the identified demand driven livestock extension services. A total 26 livestock extension services were demanded by the farmers of the eastern Haryana amongst which three services for specialized breeding services, 5 for animal feeding purposes, 7 for livestock production and management 6 for healthcare related and 5 services towards marketing and extension services. Both types of the farmers had a highest demand for conventional livestock extension services like timely AI services, vaccination services and non-conventional extension service like demonstration-cum-training programme on Azolla production and conservation. Livestock farmers were highly interested to grow as an entrepreneur, whereas, commercial livestock farmers were highly interested to strengthen their farm by securing credit accessibility. Hence, Livestock farmers' need on specialized demand driven extension services has been identified along with their degree of importance which may help in policy formulation in future for re-institutionalized public livestock extension services.

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Section: Resultsmentioning

confidence: 99%

Demand driven livestock extension services: Farmers' participatory assessment in Eastern Haryana

VERMA

Garai

Maiti

et al. 2020

Indian J of Anim Sci

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“…Farmers were willing to pay less premium because of the mindset that they don't get any payback in cases they don't bear any loss. The high cost of the premium is the most important limiting factor to adopt insurance (Jokhio et al, 2016). The purchase of insurance becomes more attractive when the government subsidizes the premium (Eidman, 1990).…”

Section: Description Of Insured Farmers Characteristicsmentioning

confidence: 99%

“…However, the lack of insurance service is the major hindering factor for the adoption of agricultural insurance in Nepal (Ghimire et al, 2016a). One of the factors related to low insurance adoption is a insurance agent's failure to approach farmers to explain the policies (Jokhio et al, 2016). About 89% of the insured farmers were satisfied with the valuation and loss assessment procedure for livestock insurance.…”

Section: Description Of Insured Farmers Characteristicsmentioning

confidence: 99%

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Determinants of livestock insurance adoption in Nepal

Devkota

Ghimire

Timsina

et al. 2021

Cogent Food & Agriculture

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Livestock insurance, an important risk management tool, is becoming popular in Nepal after Crop and Livestock Insurance Directives, 2013, came into action. To widen the adaptability of the insurance throughout the country, key determinants of insurance adoption need proper investigation. We designed this study to identify the factors that influence farmer's decisions in adopting livestock insurance. Primary data were collected from 415 respondents including 245 livestock insured and 170 non-insured farmers. Probit regression model using STATA15 was employed to analyze factors influencing livestock insurance adoption. The regression result revealed that the probability of insurance adoption significantly increases with farmers having membership in groups or cooperatives, raising awareness, and rearing improved animal. Intensifying public awareness campaigns through a combined effort of all the stakeholders including local government authorities, broadcasting media, insurance companies, and farmer's groups or cooperatives is necessary for insurance uptake in the farming community. Provision of insurance through farmers' group or cooperatives making them a formal insurer agent is required for wider adoption of livestock insurance in Nepal. Subjects: Agriculture & Environmental Sciences; Agriculture; Agriculture and Food Deepa Devkota ABOUT THE AUTHOR Deepa Devkota is a scientist based at the Nepal Agricultural Research Council (NARC) where she works as an agricultural economist for the last six years. Her research interest lies in the adoption and impact assessment of agricultural technologies. She worked for Pilot Program for Climate Resilience (PPCR) project funded by the World Bank with the research focus on the adoption of agriculture insurance in Nepal. Livestock insurance is an effective risk management tool.However, several aspects of the adoption of livestock insurance by the farmers have been poorly understood. This paper will contribute to an increased understanding of the factors influencing adoption decisions of livestock insurance which have become quite relevant to extend its adoption through better policy actions in Nepal.

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“…In these models, the government delegates responsibility for designing, financing, operating infrastructure, or services to the private sector. In some of these models, not all responsibilities are assigned to the private sector, and areas such as financing and design are performed by the public sector (Jokhio et al, 2016). PPP is becoming a solution to overcome public sector budget constraints, using the skills and expertise of the private sector.…”

Section: Introductionmentioning

confidence: 99%

Improving the Mechanisms of Public-Private Partnership

Minnibaeva¹,

Vaslavskaya²,

Koshkina³

et al. 2021

IJFR

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Development of the Russian economy causes the growth of public requirements and structural changes connected with it directed to an increase in the efficiency of social and economic tasks solution. Need of partnership of the state and private business development for the solution of problems in the social and economic sphere predetermines by the insufficiency of opportunities of the public (budgetary) financing of investment projects, large-scale and significant for society. The public-private partnership (PPP) acts as one of the modern economic mechanisms allowing realizing the interaction of the state and business. The PPP, on the one side, represents a special form of influence of state authorities and management for the purpose of stimulation of business activity, and with another, acts as the economic mechanism of the solution of social and economic tasks. The article is devoted to the consideration of the public-private partnership mechanism as one of the most modern methods of economic activity state regulation which basis the basic coordination principle of the parties interests and allowing to combine interests and technologies of business. Need and the prospects of further development of mechanisms of state-private partnership on the basis of the state strategic planning are proved. Special attention is paid to the interrelation of development of public-private partnership and need of theoretical scientific research in the field of improvement of institutional, ensuring its realization. It is shown that the role of the mechanism of public-private partnership in the economy is defined, first of all, by its elements as subjects and objects of public-private partnership, priority spheres of realization. Authors allocate and describe a number of aspects of the mechanism of functioning of public-private partnership, namely: organizational and legal, financial and investment, technical and organizational, regional. In the article, the main problems connected with the development of the mechanism of PPP, including with lack of the description of concrete mechanisms of use of the majority of forms of PPP and lack of regulation of questions of division of powers between public authorities and business are allocated and proved.

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Managing Risk in Livestock Farming: The Role of Insurance Companies

Cited by 5 publications

References 14 publications

Demand driven livestock extension services: Farmers' participatory assessment in Eastern Haryana

Demand driven livestock extension services: Farmers' participatory assessment in Eastern Haryana

Determinants of livestock insurance adoption in Nepal

Improving the Mechanisms of Public-Private Partnership

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