THE RISK OF DROUGHT IN CROP PRODUCTION INSURANCE

  • Nebojša Žarković, Ph.D. John Naisbitt University Belgrade
  • Jova Miloradić, Ph.D. Educons University, Faculty of Business Economy, Sremska Kamenica
  • Slobodan Samardžić, Ph.D. Chamber of Commerce and Industry of Serbia, Beograd

Abstract

The goal of this paper was to study the risk of drought as one of perils which can extremely harm the crop production, and also its coverage by insurance on the insurance market. In that purpose, frst the forms of drought in agriculture and its effect on crops and yields were analysed. After that, this weather disaster was put in the spotlight from the insurance risk point of view. Special emphasis was placed on insurance against drought in our country. In implementing the process of risk management from drought, a common approach of insurance companies is that they simply do not offer this type of protection due to often huge potential damage. Such approach is common in insurance companies in high-developed west countries. It is obvious that there should involve government in the resolution of this issue, in order to protect food production as one of the basic preconditions for human survival.

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Published
2016-12-31
How to Cite
ŽARKOVIĆ, Nebojša; MILORADIĆ, Jova; SAMARDŽIĆ, Slobodan. THE RISK OF DROUGHT IN CROP PRODUCTION INSURANCE. Economics of Agriculture, [S.l.], v. 63, n. 4, p. 1297-1308, dec. 2016. ISSN 2334-8453. Available at: <http://ea.bg.ac.rs/index.php/EA/article/view/161>. Date accessed: 24 oct. 2020. doi: https://doi.org/10.5937/ekoPolj1604297Z.
Section
Original scientific papers