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Insurance Against Covariate Shocks : The Role of Index-Based Insurance in Social Protection in Low-Income Countries of Africa

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World Bank (WB)

Abstract: Index insurance, such as weather indexing, addresses other inherent problems in insurance by using an indicator that is not affected by individual behavior and may address monitoring costs and moral hazard. A number of innovations using index insurance are being tried currently in diverse settings ranging from India to Mongolia to Malawi. Marketing costs may limit the provision of such insurance to small farmers, but even in such cases microfinance institutes may serve as market intermediaries. Moreover, state and submational governments can use insurance to achieve countercyclical funding programs. In this vein, municipal governments in Mexico have used insurance to finance disaster contingency while the World Food Program has insured a portion of its emergency assistance to Ethiopia. Humanitarian organizations and NGOs may also seek insurance in this manner.
Type: Publications & Research :: Publication
Publications & Research :: Publication
Link: 0-8213-7036-7
http://hdl.handle.net/10986/6736
Subject: ADMINISTRATIVE COSTS
AGENTS
AGRICULTURAL INPUTS
AGRICULTURAL PRODUCTION
APPLICATIONS
ARID LANDS
BASIS RISK
BENEFICIARIES
BLOCK GRANT
CASH PAYMENTS
CHILD HEALTH
CHRONIC POVERTY
COMMERCIAL BANKS
CONTINGENCY PLANNING
CORRELATES OF POVERTY
COVARIATE SHOCKS
COVERAGE
CREDIT INSURANCE
CROP INSURANCE
DEBT
DEFAULT RISK
DEMAND FOR INSURANCE
DISASTER RELIEF
DROUGHT
ECONOMIC GROWTH
ECONOMIC SHOCK
ECONOMIC SHOCKS
EMERGENCY ASSISTANCE
EMERGENCY RELIEF
FAMINE
FARM SIZE
FARMERS
FINANCIAL INSTITUTIONS
FINANCIAL RISK
FINANCIAL SERVICES
FLOOD INSURANCE
FOOD AID
FOOD PROGRAM
FORMAL INSURANCE
HUMAN DEVELOPMENT
HUMANITARIAN AID
IMPACT OF SHOCKS
INCOME
INCOME INEQUALITY
INCOME LOSS
INCOME SHOCKS
INCOME TRANSFER
INDEMNITY
INFORMAL INSURANCE
INFORMAL INSURANCE MECHANISMS
INFORMAL MECHANISMS
INSURANCE
INSURANCE COMPANIES
INSURANCE CONTRACTS
INSURANCE FUNCTION
INSURANCE INDUSTRY
INSURANCE MARKET
INSURANCE MARKETS
INSURANCE MECHANISMS
INSURANCE POLICY
INSURANCE PREMIUMS
INSURANCE PRODUCTS
INSURANCES
INSURERS
INVENTORY
LENDING INSTITUTIONS
LIVESTOCK PRODUCTION
LIVESTOCK SPECIES
LOCAL GOVERNMENT
LOCAL GOVERNMENTS
LOSS OF INCOME
MALNUTRITION
MARKET
MARKET FAILURE
MARKET FAILURES
MICRO FINANCE
MICRO-INSURANCE
MICROFINANCE
MORAL HAZARD
MORAL HAZARDS
MORTALITY
MUNICIPAL GOVERNMENTS
MUNICIPALITIES
NATURAL DISASTER
NATURAL DISASTERS
POOR
POOR FARMERS
POOR HOUSEHOLD
POOR HOUSEHOLDS
POVERTY REDUCTION
POVERTY TRAPS
PRIVATE INSURANCE
PRIVATE INSURANCE COMPANIES
PRIVATE INSURERS
PRODUCTION INCENTIVES
PRODUCTIVE ASSETS
PRODUCTIVITY
PUBLIC INTERVENTION
PUBLIC SECTOR
PUBLIC WORKS
PUBLIC WORKS PROGRAMS
RAINFALL INSURANCE
RATES
REINSURANCE
REINSURANCE COMPANIES
RELIEF OPERATIONS
RESOURCE ALLOCATION
RISK MANAGEMENT
RISK MITIGATION
RISK POOLING
RISK REDUCTION
RURAL
RURAL AREAS
RURAL DEVELOPMENT
RURAL GROWTH
RURAL HOUSEHOLDS
SAFETY NETS
SAVINGS
SAVINGS ACCOUNTS
SELF-INSURANCE
SHOCK
SOCIAL FUNDS
SOCIAL INSURANCE
SOCIAL PROTECTION
SOCIAL SAFETY NET
SUBNATIONAL GOVERNMENTS
SUBSIDIARY
SUSTAINABILITY
TARGETED TRANSFER PROGRAMS
TARGETING
TRANSFER PROGRAM
WAGES
WEATHER INSURANCE
WEATHER SHOCKS
WORK PROGRAMS




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