Agricultural Insurance - 1st Edition - ISBN: 9780080298245, 9781483190570

Agricultural Insurance

1st Edition

Principles and Organization and Application to Developing Countries

Authors: P. K. Ray
eBook ISBN: 9781483190570
Imprint: Pergamon
Published Date: 1st January 1967
Page Count: 344
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Description

Agricultural Insurance: Principles and Organization and Application to Developing Countries states that agriculture is subject to special elements of uncertainty. The risk inherent in agriculture has been exhaustively discussed in the text. Risks in agriculture can be characterized as property risk and personal risk. Natural risk such as storms, plant diseases, and insect pests is another topic covered in the book. A type of risk that is identified as drought, inundation, frost and freeze, hail, and tornado is called meteorological risk. The book also discusses another form of risk, which is named social risk. Occurrence such as fire, theft or burglary, embezzlement, and technological change belongs to this type of risk. A chapter of the book is devoted to the ways on how to remedy the risks enumerated. Another section of the book defines the term insurance. This section introduces such topic as probability, uncertainty, and the law of large numbers. The book notes that in order for agricultural risk to be insurable, it must satisfy some parameters. The text will provide valuable insight for farmers, financial planners, statisticians, students, and researchers in the field of risk management.

Table of Contents


Preface

Foreword

List of Illustrations

List of Abbreviations Used

Part I. Agricultural Risks and Their Insurability

Chapter I. Risks in Agriculture

Risks to Agricultural Property

Personal Risks in Agriculture

Graphic Presentation of Agricultural Risks

Chapter II. Different Ways of Meeting Agricultural Risks

Avoidance

Prevention

Assumption

Chapter III. Insurability of Agricultural Risks

Nature and Function of Insurance

Factors Determining Insurability of Risks

Insurability of Agricultural Risks

Part II. Crop Insurance

Chapter IV. Object and Types of Crop Insurance

Object of Crop Insurance

Types of Crop Insurance

Chapter V. Specific Hazard Crop Insurance—Against Hail

Nature of Contract

Eligibility (of Land) for and Condition of Coverage

Amount of Cover

Methods of Rating

Examples of Premium Rates

Discounts and Rebates of Premium

Assessment and Payment of Premiums

Term of Contract

Other Conditions

Procedure in Case of Loss

Method of Loss Determination

Minimum Loss Clause and Loss Deductible Clause

Management and Reserve

Reinsurance

Chapter VI. Combined-Risk Crop Insurance

Weather-Perils Crop Insurance in the United States

Chapter VII. All-Risk Crop Insurance

Nature of All-Risk Crop Insurance

All-Risk Crop Insurance in the United States

A Brief Note on Systems of Crop Insurance in Canada, Japan and Ceylon

Part III. Livestock Insurance

Chapter VIII. Importance and Forms of Livestock Insurance

Importance of Livestock Insurance

Position of Livestock Insurance

Forms of Livestock Insurance

Chapter IX. Insurance of Livestock—General

Nature of Cover

Selection of Risks

Classification of Risks

Basis of Valuation and Amount of Cover and Indemnity

Rating Methods

Examples of Premium Rates

Term and Conditions of Contract

Inspection of Insured Animals

Procedure in Case of Accident or Illness

Transfer of Policies and Substitution of Animals

Forfeiture of Policy

Arbitration

Reinsurance

Chapter X. Insurance of Livestock against Specific Risks

Insurance of Foaling Risks

Castration Insurance

Insurance against Anthrax

Insurance against Consequential Loss Due to Foot-and-Mouth Disease

Insurance against Transit and Show Risks

Chapter XI. Insurance of Slaughter Stock

Part IV. Farm Property and Farm Engineering Insurance

Chapter XII. Farm Fire Insurance

Introduction

Farm Fire Insurance in the United Kingdom

Mutual Farm Fire Insurance in the United States

Chapter XIII. Agricultural Vehicles and Engineering Insurance

Insurance of Agricultural and Forestry Vehicles

Agricultural Engineering Insurance

Part V. Personal and Liability Insurance for Farmers

Chapter XIV. Personal Accident and Sickness Insurance for Farm People

Development and Object

Great Britain

United States

Chapter XV. Farmers' Liability Insurance

Nature of Farmer-Employers' Liabilities

Employers' Liability Insurance

Personal and Public Liability Insurance for Farmers

Part VI. Agricultural Insurance Organization

Chapter XVI. Private Insurance Organizations

Principal Types of Insurance Organization

Joint-Stock Insurance Companies

Mutual and Co-Operative Insurance Societies

Chapter XVII. Public Insurance

Forms of Public Insurance

Advantages and Disadvantages of Public Insurance

Part VII. Some Basic Considerations

Chapter XVIII. Actuarial Consideration of Agricultural Risks

Specialized Agricultural Risks

Non-Specialized Agricultural Risks

Chapter XIX. Reinsurance

Definition and Benefit

Reinsurance Methods

Reinsurance Organizations

Problems and Possibilities of International Reinsurance of National Crop Insurance Systems

Some Suggestions as to Reinsurance of National Crop Insurance

Conclusion

Chapter XX. Agricultural Insurance in Newly Developing Countries

Crop Insurance

Livestock Insurance

Prospects and Possibilities

Appendix I. Supplement to the Text

Summary of Loss-Adjustment Process of the Alberta Hail Insurance Board, Canada

Appendix II. Supplementary Tables

Appendix III. Samples of Select Forms

(a) CHIAA Standard Crop-Hail Application

(b) CHIAA Standard Crop-Hail Policy

(c) Application for Weather-Perils Crop Insurance (CHIAA)

(d) U.S. FCIC County Summary of Coverages and Premium Rates by Areas, 19—

(e) U.S. FCIC County Actuarial Table—Wheat—1963 and Succeeding Crop Years

(f) U.S. FCIC County Actuarial Table—Tobacco—19— and succeeding Crop Years

(g) U.S. FCIC Crop Insurance Acreage Report

(h) U.S. FCIC Application

(i) U.S. FCIC Application Supplement (Sharecropper and Share Tenant Interest)

(j) U.S. FCIC Adjuster's Worksheet for Grain

(k) U.S. FCIC Claim for Indemnity

(l) Ceylon Crop Insurance Policy

(m) (i) Fire Policy of the National Farmers Union Mutual Insurance Society, England and Wales (Buildings Insurance with Storm and Tempest Extension)

(ii) Fire Policy of the National Farmers Union Mutual Insurance Society, England and Wales (Farming Stock)

(n) Alabama Farm Bureau Mutual Insurance Service Inc. Standard Fire and Lightning Policy with Windstorm Endorsement and Seven-Point Extended Coverage

(o) Texas Standard Policy, Fire and Lightning, and Farm and Ranch Form (The State Board of Insurance)

Comprehensive Bibliography

Index


Details

No. of pages:
344
Language:
English
Copyright:
© Pergamon 1967
Published:
Imprint:
Pergamon
eBook ISBN:
9781483190570

About the Author

P. K. Ray

Affiliations and Expertise

Food and Agricultural Organization of the United Nations, Rome, Italy