CHARACTERISTICS OF AGRICULTURAL INSURANCE: THE CASE OF COUNTRIES OF FORMER YUGOSLAVIA REGION
Keywords:
agriculture, risk, insurance, region of former Yugoslavia.Abstract
Agricultural production is of great importance in the economies of region of former Yugoslavia, in relative terms significantly more than the global average. This production is carried out in the open air conditions and also is exposed to the effects of a large number of risks in relation to other activities. The research presented in this paper is the provision of agricultural insurance as a mechanism of risk management in the agricultural industry. The aim of the research is to show the key importance of this type of insurance and the determination of comparative differences in the effectiveness of its implementation in Serbia and other countries of the former common state in order to identify problems and propose potential solutions. The paper points out the importance and general characteristics of agriculture insurance and then to the common features of these types of insurance in all countries of the former Yugoslavia and then we analyze the effectiveness of this type of insurance in these countries. The results of the study are important for insurance companies in the region and may be useful to farmers and the state authorities concerned for a successful and sustainable agricultural production.
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References
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2. Baez, M. S., Wong, S. (2007): Insurance in emerging markets: sound development; greenfeld for agricultural insurance, Sigma, no. 1/2007, Swiss Re, Zurich.
3. Cummins, J. D. (2006): Should the Government Provide Insurance for Catastrophes?, Federal Reserve Bank of St. Louis Review, no. 88(4), pp. 337-379.
4. FAO (2005): Insurance of crops in developing countries, Food and Agriculture Organization of the United Nations, Rome.
5. FAO (2009), The State of Food Ininsurance in the World: Economic crises – impacts and lessons learned, Food and Agriculture Organization of the United Nations, Rome.
6. Froot, K. A. (2001): The Market for Catastrophe Risk: A Clinical Examination, Journal of Financial Economics, vol. 60(2-3), pp. 529-571.
7. GAO (2012): Crop Insurance: Savings Would Result from Program Changes and Greater Use of Data Mining, GAO-12-256, Report to the Ranking Member, Permanent Subcommittee on Investigations, Committee on Homeland Insurance and Governmental Affairs, U.S. Senate, United States Government Accountability Office, Washington, DC.
8. Guy Carpenter (2006): Guy Carpenter Introduces Industrys First Agricultural Risks Exposure Model for Italys Hail Insurance Market, available at: http://gcportal.guycarp. com/portal/extranet/popup/pdf/PR/ERA%20Model%20031306.pdf (accessed at 25 Dec. 2012)
9. Iturrioz, R. (2009): Agricultural Insurance, Primer Series on Insurance, the World Bank, Washington, DC.
10.Kriesel, W., Landry, C. (2004): Participation in the National Flood Insurance Program: an Empirical Analysis for Coastal Properties, Journal of Risk and Insurance, vol. 71(3), pp. 405-420.
11. Mahul, O., Stutley, C. J. (2010): Government Support to Agricultural Insurance: Challenges and Opportunities for Developing Countries, World Bank, Washington DC.
12.Marović, B. (2001): Osiguranje i špedicija, Stylos, Novi Sad.
13.Michel-Kerjan, E. O., Kousky, C. (2010): Come Rain or Shine: Evidence on Flood Insurance Purchases in Florida, Journal of Risk and Insurance, vol. 77(2), pp. 369-397.
14.Miranda, M. J., Glauber, J. W. (1997): Systemic Risk, Reinsurance and the Failure of Crop Insurance Markets, American Journal of Agricultural Economics, vol. 79(1), pp. 206-215.
15.Njegomir, V. (2011): Osiguranje, Ortomedics book, Novi Sad.
16.Njegomir, V., Pejanović, R. (2011): Importance and current issues in agricultural insurance in Serbia, Savremena poljoprivreda, vol. 60(1-2), str. 38-45.
17.Pejanović, R., Popović Vranješ, A., Maksimović, G., Tomaš, M., Petrović, D. (2009): Agroeconomical Analysis and Organic Agricultural Production, Contemporary Agriculture, vol. 58(3-4), pp. 157-164.
18.Pejanović, R., Njegomir, V. (2011): Problemi upravljanja rizicima u poljoprivredi, Ekonomika poljoprivrede, vol. 58(1), str. 91-103.
19.Pravilnik o ostvarivanju prava na potporu osiguranja od mogućih šteta proizvodnji u poljoprivredi, Narodne novine, br. 33/12.
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21.Pravilnik o uvjetima i načinu ostvarenja novčanih potpora po modelu ostalih vrsta novčanih potpora u poljoprivredi, Službene novine FBiH, br. 56/12.
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28.World Bank (2008): Framework document for proposed loans, credits and grants in the amount of US$ 1.2 billion equivalent for a global food crisis response program, Washington, DC.
29.World Bank (2013): World Development Indicators Database, World Bank, New York.
30.Zakon o kmetijstvu, Uradni list Republike Slovenije, br. 45/2008.
31.Zakon o novčanim podrškama u poljoprivredi i ruralnom razvoju, Službene novine FBiH, br. 42/10.
32.Zakon o poljoprivredi i ruralnom razvoju, Službeni glasnik Republike Srbije, br. 41/09.
33.Zakon o potpori poljoprivredi i ruralnom razvoju, Narodne novine, br. 120/12.
34.Zakon za zemjodelstvo i ruralen razvoj, Službeni Vesnik na R. Makedonija, br. 49/10.
35.Žarković, N. (2000): Značaj osiguranja za poljoprivredno preduzeće, Agroekonomika, no. 29, str. 136-143.
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Published
2018-06-13
How to Cite
Petrović, Z., Njegomir, V., & Počuča, S. (2018). CHARACTERISTICS OF AGRICULTURAL INSURANCE: THE CASE OF COUNTRIES OF FORMER YUGOSLAVIA REGION. Economics of Agriculture, 60(4), 729–743. Retrieved from https://ea.bg.ac.rs/index.php/EA/article/view/415
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Original scientific papers
