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Improving the design of climate insurance: combining empirical approaches and modelling
Extreme weather due to climate change often disproportionately affects the weakest members of society. Agricultural insurance programs designed specifically for smallholders in developing countries are valuable tools that can help farmers to cope with the resulting risks. A broad range of methods in...
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Published in: | Climate and development 2022-10, Vol.14 (9), p.804-813 |
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creator | Will, Meike Backes, Annika Campenni, Marco Cronk, Lee Dressler, Gunnar Gornott, Christoph Groeneveld, Jürgen Habtemariam, Lemlem Teklegiorgis Kraehnert, Kati Kraus, Martin Lenel, Friederike Osgood, Daniel Taye, Masresha Müller, Birgit |
description | Extreme weather due to climate change often disproportionately affects the weakest members of society. Agricultural insurance programs designed specifically for smallholders in developing countries are valuable tools that can help farmers to cope with the resulting risks. A broad range of methods including household surveys, experimental games, and agent-based models have been used to assess and improve the effectiveness of such climate insurance products. Furthermore, process-based crop models have been used to derive suitable insurance indices. However, climate change raises specific socioeconomic and environmental challenges that need to be considered when designing insurance schemes. We argue that, in light of these pressing challenges, some of the methodological approaches currently applied to study climate insurance reach their limits when applied independently. This has fundamental implications. On the one hand, not all undesired side effects of insurance can be detected and, on the other hand, insurance indices cannot be derived sufficiently well. We therefore advocate a sound combination of different methods, especially by linking empirical analyses and modelling, and underline the resulting potential with the help of stylized examples. Our study highlights how methodological synergies can make climate insurance products more effective in supporting the most vulnerable households, especially under changing climatic conditions. |
doi_str_mv | 10.1080/17565529.2021.2007837 |
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Agricultural insurance programs designed specifically for smallholders in developing countries are valuable tools that can help farmers to cope with the resulting risks. A broad range of methods including household surveys, experimental games, and agent-based models have been used to assess and improve the effectiveness of such climate insurance products. Furthermore, process-based crop models have been used to derive suitable insurance indices. However, climate change raises specific socioeconomic and environmental challenges that need to be considered when designing insurance schemes. We argue that, in light of these pressing challenges, some of the methodological approaches currently applied to study climate insurance reach their limits when applied independently. This has fundamental implications. On the one hand, not all undesired side effects of insurance can be detected and, on the other hand, insurance indices cannot be derived sufficiently well. We therefore advocate a sound combination of different methods, especially by linking empirical analyses and modelling, and underline the resulting potential with the help of stylized examples. Our study highlights how methodological synergies can make climate insurance products more effective in supporting the most vulnerable households, especially under changing climatic conditions.</description><identifier>ISSN: 1756-5529</identifier><identifier>EISSN: 1756-5537</identifier><identifier>DOI: 10.1080/17565529.2021.2007837</identifier><language>eng</language><publisher>London: Taylor & Francis</publisher><subject>Agricultural insurance ; Climate change ; Climate models ; Climatic conditions ; Climatic extremes ; Climatic indexes ; Design improvements ; Developing countries ; Empirical analysis ; empirical research ; Extreme weather ; Households ; Insurance ; LDCs ; Modelling ; risk management ; Side effects ; Surveys</subject><ispartof>Climate and development, 2022-10, Vol.14 (9), p.804-813</ispartof><rights>2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group 2022</rights><rights>2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This work is licensed under the Creative Commons Attribution – Non-Commercial – No Derivatives License http://creativecommons.org/licenses/by-nc-nd/4.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><cites>FETCH-LOGICAL-c333t-3d6bee25b71ba4e07f00daf336595f2215d640b1f06cc88db49cd683447a890f3</cites><orcidid>0000-0001-7649-4869 ; 0000-0002-7380-6043 ; 0000-0003-2338-4636 ; 0000-0002-1769-3064 ; 0000-0001-9638-5862 ; 0000-0002-5008-4543 ; 0000-0001-8780-4420 ; 0000-0001-7319-9581 ; 0000-0003-3933-3358 ; 0000-0002-2833-6222 ; 0000-0002-7583-7417</orcidid></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>314,780,784,27924,27925</link.rule.ids></links><search><creatorcontrib>Will, Meike</creatorcontrib><creatorcontrib>Backes, Annika</creatorcontrib><creatorcontrib>Campenni, Marco</creatorcontrib><creatorcontrib>Cronk, Lee</creatorcontrib><creatorcontrib>Dressler, Gunnar</creatorcontrib><creatorcontrib>Gornott, Christoph</creatorcontrib><creatorcontrib>Groeneveld, Jürgen</creatorcontrib><creatorcontrib>Habtemariam, Lemlem Teklegiorgis</creatorcontrib><creatorcontrib>Kraehnert, Kati</creatorcontrib><creatorcontrib>Kraus, Martin</creatorcontrib><creatorcontrib>Lenel, Friederike</creatorcontrib><creatorcontrib>Osgood, Daniel</creatorcontrib><creatorcontrib>Taye, Masresha</creatorcontrib><creatorcontrib>Müller, Birgit</creatorcontrib><title>Improving the design of climate insurance: combining empirical approaches and modelling</title><title>Climate and development</title><description>Extreme weather due to climate change often disproportionately affects the weakest members of society. Agricultural insurance programs designed specifically for smallholders in developing countries are valuable tools that can help farmers to cope with the resulting risks. A broad range of methods including household surveys, experimental games, and agent-based models have been used to assess and improve the effectiveness of such climate insurance products. Furthermore, process-based crop models have been used to derive suitable insurance indices. However, climate change raises specific socioeconomic and environmental challenges that need to be considered when designing insurance schemes. We argue that, in light of these pressing challenges, some of the methodological approaches currently applied to study climate insurance reach their limits when applied independently. This has fundamental implications. On the one hand, not all undesired side effects of insurance can be detected and, on the other hand, insurance indices cannot be derived sufficiently well. 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subjects | Agricultural insurance Climate change Climate models Climatic conditions Climatic extremes Climatic indexes Design improvements Developing countries Empirical analysis empirical research Extreme weather Households Insurance LDCs Modelling risk management Side effects Surveys |
title | Improving the design of climate insurance: combining empirical approaches and modelling |
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