Prospects of Weather Index-Based Crop Insurance in Bangladesh

Md. Tareq Hasan

doi:doi:10.11648/j.ijae.20190401.15

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Prospects of Weather Index-Based Crop Insurance in Bangladesh

Md. Tareq Hasan

Published in International Journal of Agricultural Economics (Volume 4, Issue 1)

Received: 9 January 2019 Accepted: 11 February 2019 Published: 27 February 2019

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Abstract

Agricultural sectors of Bangladesh are frequently affected by natural disasters such as droughts, excessive rainfall, floods, flashflood, heavy fog, earthquakes, storm, cyclones, salinity and landslides. Agriculture or crop insurance is an important method by which farmers can stabilize their income and investment against disastrous effect of losses for natural hazards or low market price of the crops. Crop insurance helps the farmers of developing and under developed countries to initiate production activities after a bad agricultural period. At first, Green Delta Insurance Company has started Weather Index Insurance since 2015 by supporting of World Bank group in Bangladesh. Later on, Sadharan Bima Corporation (SBC) also proposed another new project named ‘Weather Index-Based Crop Insurance (WIBCI)’. Agriculture or crop insurance should be based on risk management strategy. The purpose of this study is to implement and further possibility of weather index-based crop insurance in Bangladesh and descriptive method is used to represent the information. The possible result of this study is continuous crops production activities of the farmers after a natural disaster. Bangladesh should have started agriculture or crop insurance system earlier for better output from agricultural sectors.

Published in	International Journal of Agricultural Economics (Volume 4, Issue 1)
DOI	10.11648/j.ijae.20190401.15
Page(s)	32-40
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Agriculture, Crop, Disaster, Insurance, GDIC, WIBC

References

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Md. Tareq Hasan. (2019). Prospects of Weather Index-Based Crop Insurance in Bangladesh. International Journal of Agricultural Economics, 4(1), 32-40. https://doi.org/10.11648/j.ijae.20190401.15

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Md. Tareq Hasan. Prospects of Weather Index-Based Crop Insurance in Bangladesh. Int. J. Agric. Econ. 2019, 4(1), 32-40. doi: 10.11648/j.ijae.20190401.15

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Md. Tareq Hasan. Prospects of Weather Index-Based Crop Insurance in Bangladesh. Int J Agric Econ. 2019;4(1):32-40. doi: 10.11648/j.ijae.20190401.15

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@article{10.11648/j.ijae.20190401.15,
  author = {Md. Tareq Hasan},
  title = {Prospects of Weather Index-Based Crop Insurance in Bangladesh},
  journal = {International Journal of Agricultural Economics},
  volume = {4},
  number = {1},
  pages = {32-40},
  doi = {10.11648/j.ijae.20190401.15},
  url = {https://doi.org/10.11648/j.ijae.20190401.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijae.20190401.15},
  abstract = {Agricultural sectors of Bangladesh are frequently affected by natural disasters such as droughts, excessive rainfall, floods, flashflood, heavy fog, earthquakes, storm, cyclones, salinity and landslides. Agriculture or crop insurance is an important method by which farmers can stabilize their income and investment against disastrous effect of losses for natural hazards or low market price of the crops. Crop insurance helps the farmers of developing and under developed countries to initiate production activities after a bad agricultural period. At first, Green Delta Insurance Company has started Weather Index Insurance since 2015 by supporting of World Bank group in Bangladesh. Later on, Sadharan Bima Corporation (SBC) also proposed another new project named ‘Weather Index-Based Crop Insurance (WIBCI)’. Agriculture or crop insurance should be based on risk management strategy. The purpose of this study is to implement and further possibility of weather index-based crop insurance in Bangladesh and descriptive method is used to represent the information. The possible result of this study is continuous crops production activities of the farmers after a natural disaster. Bangladesh should have started agriculture or crop insurance system earlier for better output from agricultural sectors.},
 year = {2019}
}

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TY - JOUR
T1 - Prospects of Weather Index-Based Crop Insurance in Bangladesh
AU - Md. Tareq Hasan
Y1 - 2019/02/27
PY - 2019
N1 - https://doi.org/10.11648/j.ijae.20190401.15
DO - 10.11648/j.ijae.20190401.15
T2 - International Journal of Agricultural Economics
JF - International Journal of Agricultural Economics
JO - International Journal of Agricultural Economics
SP - 32
EP - 40
PB - Science Publishing Group
SN - 2575-3843
UR - https://doi.org/10.11648/j.ijae.20190401.15
AB - Agricultural sectors of Bangladesh are frequently affected by natural disasters such as droughts, excessive rainfall, floods, flashflood, heavy fog, earthquakes, storm, cyclones, salinity and landslides. Agriculture or crop insurance is an important method by which farmers can stabilize their income and investment against disastrous effect of losses for natural hazards or low market price of the crops. Crop insurance helps the farmers of developing and under developed countries to initiate production activities after a bad agricultural period. At first, Green Delta Insurance Company has started Weather Index Insurance since 2015 by supporting of World Bank group in Bangladesh. Later on, Sadharan Bima Corporation (SBC) also proposed another new project named ‘Weather Index-Based Crop Insurance (WIBCI)’. Agriculture or crop insurance should be based on risk management strategy. The purpose of this study is to implement and further possibility of weather index-based crop insurance in Bangladesh and descriptive method is used to represent the information. The possible result of this study is continuous crops production activities of the farmers after a natural disaster. Bangladesh should have started agriculture or crop insurance system earlier for better output from agricultural sectors.
VL - 4
IS - 1
ER -

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Author Information

Md. Tareq Hasan

Department of Business Administration, Sheikh Fazilatunnesa Mujib University, Jamalpur, Bangladesh

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APA Style

Md. Tareq Hasan. (2019). Prospects of Weather Index-Based Crop Insurance in Bangladesh. International Journal of Agricultural Economics, 4(1), 32-40. https://doi.org/10.11648/j.ijae.20190401.15

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ACS Style

Md. Tareq Hasan. Prospects of Weather Index-Based Crop Insurance in Bangladesh. Int. J. Agric. Econ. 2019, 4(1), 32-40. doi: 10.11648/j.ijae.20190401.15

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AMA Style

Md. Tareq Hasan. Prospects of Weather Index-Based Crop Insurance in Bangladesh. Int J Agric Econ. 2019;4(1):32-40. doi: 10.11648/j.ijae.20190401.15

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@article{10.11648/j.ijae.20190401.15,
  author = {Md. Tareq Hasan},
  title = {Prospects of Weather Index-Based Crop Insurance in Bangladesh},
  journal = {International Journal of Agricultural Economics},
  volume = {4},
  number = {1},
  pages = {32-40},
  doi = {10.11648/j.ijae.20190401.15},
  url = {https://doi.org/10.11648/j.ijae.20190401.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijae.20190401.15},
  abstract = {Agricultural sectors of Bangladesh are frequently affected by natural disasters such as droughts, excessive rainfall, floods, flashflood, heavy fog, earthquakes, storm, cyclones, salinity and landslides. Agriculture or crop insurance is an important method by which farmers can stabilize their income and investment against disastrous effect of losses for natural hazards or low market price of the crops. Crop insurance helps the farmers of developing and under developed countries to initiate production activities after a bad agricultural period. At first, Green Delta Insurance Company has started Weather Index Insurance since 2015 by supporting of World Bank group in Bangladesh. Later on, Sadharan Bima Corporation (SBC) also proposed another new project named ‘Weather Index-Based Crop Insurance (WIBCI)’. Agriculture or crop insurance should be based on risk management strategy. The purpose of this study is to implement and further possibility of weather index-based crop insurance in Bangladesh and descriptive method is used to represent the information. The possible result of this study is continuous crops production activities of the farmers after a natural disaster. Bangladesh should have started agriculture or crop insurance system earlier for better output from agricultural sectors.},
 year = {2019}
}

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