Global disparities in agricultural climate index-based insurance research

Abstract

Agricultural climate index-based-insurance (IBI) compensates farmers for losses from adverse climatic conditions. Using a systemic review, we show that research related to agricultural climate index-based-insurance efficacy and application is lacking in many climate and food security vulnerable countries. We concluded that there are countries with high climate and food insecurity risk based on several climate and food security indicators that lack agricultural climate index-based-insurance research that could help farmers in these countries. Research to date has also largely focused on cereal crops and drought, which only represent a fraction of the crops and climate risks that agricultural climate index-based-insurance could be beneficial in managing. Our paper provides evidence-based recommendations for countries that should be focused on to redress the current disparities in agricultural climate index-based-insurance research.

Keywords

• Weather insurance
• Climate risk insurance
• Climate finance
• Agricultural risk
• Climate adaptation
• Smallholder agriculture