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Kenya Toward a National Crop and Livestock Insurance Program : Background Report

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World Bank (WB)

Abstract: At the request of the government of Kenya and under its guidance, a team of national and international experts conducted an appraisal of different agricultural insurance options for Kenya.This appraisal, as set out in this document and the accompanying technical analysis, lays out the costs and benefits of developing large-scale agricultural insurance that involves both the public and private spheres.The analysis considers potential structures for large-scale agricultural insurance in Kenya, the fiscal cost to the government of Kenya, and the economic benefits for farmers and pastoralists.In order for it to partner with the private sector to prepare and implement a large scale agricultural insurance program, the government should consider taking the following next steps.The government of Kenya may build on there commendations by the Program Steering Committee to take the lead in formulating a national policy on agriculture insurance, in cooperation with county administrations and private insurance companies. The government of Kenya may develop a road map for establishing the institutions required for large-scale agricultural insurance programs, with the goal of covering at least a fifth of Kenya’s agricultural producers. As next steps for establishing livestock insurance, the government of Kenya may decide how to integrate the proposed insurance product with other existing protection mechanisms. As next steps for crop insurance, the government of Kenya may seek consultations with agricultural banks and work with private sector insurers to develop a data audit system acceptable to international reinsurers.
Type: Report
Publications & Research
Publications & Research :: Working Paper
Link: http://hdl.handle.net/10986/24444
Subject: IMPACTS OF CLIMATE CHANGE
INDEMNITY INSURANCE
JOBS
TOTAL COST
ECONOMIC MODEL
RISKS
REGULATORY FRAMEWORK
ECONOMIC GROWTH
RISK REDUCTION
INSURANCE POOLS
INCOME
INTEREST
INSURANCE VALUES
SUSTAINABILITY
INTEREST RATE
COMMERCIAL INSURANCE
PROGRAMS
INFORMATION
LIVESTOCK INSURANCE
REVENUES
PORTFOLIO
WELFARE
RISK PREMIUM
INSURANCE POLICIES
INSURANCE SOLUTIONS
LUMP SUM
INCENTIVES
ASYMMETRIC INFORMATION
PRICING
MODELS
INSURANCE CLAIMS
WEATHER INSURANCE
PRIVATE INSURANCE
PRICE
INSURANCE RISK
BENEFICIARIES
INFLATION
INSURANCE SCHEME
INSURANCE MARKET
ECONOMIC ANALYSIS
INSURANCE COMPANY
POLICYHOLDERS
CROP INSURANCE
REINSURERS
SAVINGS
SCENARIOS
MORAL HAZARD
FEASIBILITY
COSTS OF INSURANCE
INSURANCE MARKETS
INSURANCE PRODUCT
INSURANCE REGULATIONS
FIXED COSTS
FINANCIAL COSTS
INTEREST RATES
INSURANCE PAYOUT
FINANCIAL INSTITUTIONS
MARKETS
COST PER HOUSEHOLD
RATES
DISASTERS
INSURERS
TOTAL COSTS
LONG-TERM FINANCING
RISK SHARING
CAPS
REINSURANCE MARKETS
INSURANCE COVERAGE
INSURANCE POLICY
LEGAL FRAMEWORK
INSURANCE OPTIONS
FINANCE
INSURANCE PREMIUM RATES
CLIMATE VARIABILITY
REINSURANCE
CONSUMPTION
REGULATIONS
ECONOMIC COSTS
POLICIES
CLIMATE CHANGE
INSURANCE SCHEMES
INSURANCE COVER
INSURANCE AGENTS
INSURANCE PRODUCTS
VALUE
LOSSES
COMPETITIVENESS
PROGRAM COSTS
APPLICATIONS
PRODUCER PRICE
CREDIT
INSURANCE CONTRACTS
DISASTER RISK FINANCING
CLIMATE
AGRICULTURAL INSURANCE
DEMAND
MICROINSURANCE
WELFARE ANALYSIS
UTILITY FUNCTION
CLAIMS
COINSURANCE
INTERNATIONAL REINSURANCE
COST-BENEFIT
INSURANCE CONTRACT
INSURANCE INDUSTRY
INSURANCE PREMIUM
NET COST
TRANSACTION COSTS
MARKET
FINANCIAL LOSSES
EXTREME DROUGHT
RISK TRANSFER
POLICY
INSURABLE INTEREST
INSURANCE
INSURANCE PREMIUMS
LOSS
IMPACT ANALYSIS
AGENTS
SUBSISTENCE FARMERS
INSURANCE PAYMENTS
RISK
MITIGATION
INDEMNITY
INSURANCE UNDERWRITERS
PRIVATE INSURANCE COMPANIES
ALLOCATION
INSPECTIONS
FINANCIAL CAPACITY
SUPPLY
RISK MANAGEMENT PROCESS
UNDERWRITING
INSURANCE SECTOR
CONTINGENCY PLANNING
HOUSEHOLD CONSUMPTION
DYNAMIC MODEL
LOWER DEMAND
FINANCIAL SUPPORT
INVESTMENTS
RISK MANAGEMENT
COST OF INSURANCE
COST-BENEFIT ANALYSIS
CROP INSURANCE PROGRAM
INSURANCE COMPANIES
REINSURANCE CONTRACTS
POLICY ANALYSIS
FINANCIAL SECTOR
RISK MANAGERS
BASIS RISK
COVERAGE
REINSURANCE COMPANIES
PRICES
RISK ASSESSMENT
CONSUMER PROTECTION
COST OF CAPITAL
BENEFITS
RISK ANALYSIS
PREMIUMS




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