Monsoon insurance by ClimateRe

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Laurie Ashley Mar 21, 2016 01:06 Fellow 1 \| Share via:	This is an excellent idea and it seems that by requiring insurance companies to offer crop insurance, the government has taken a very important first step. It seems like the next step is working very closely with insurance companies and farmers to design insurance products that are suitable and acceptable to both. I know that most insurance companies put a LOT of research into the "trigger point," (the amount of precipitation, etc) that allows pay out. Finding the measurement that allows insurance companies to stay in business and also adequately compensates farmers is a critical part of index insurance. You might narrow your proposal to specifically work on designing sample insurance products in consultation with insurance companies in farmers and then use these sample products to raise awareness about the opportunity of index insurance for both sides.
Laurie Ashley Mar 21, 2016 01:19 Fellow 2 \| Share via:	Also, this project, http://basis.ucdavis.edu/2014/07/16/field-trip-report-agricultural-insurance-in-nepal/, is working to do something very similar. There will be good synergy with your ideas.
Natalie Unterstell Apr 3, 2016 10:36 Catalyst 3 \| Share via:	What climate projections would you adopt in order to quantify the insurance to be provided?
Juna Shrestha Apr 4, 2016 10:42 Member 4 \| Share via:	Proposal contributor @lauriea thanks a lot for your encouraging remarks and suggestions. We have designed two basic products for coffee farmers and rice farmers for Nepal, however, needs to be still tested and tuned. @nutshell - We will use last 20- 30 years of meteorological and crop data to model the crop loss specific to meteorological events (rainfall, storm etc.). The loss and thus the indemnity payment will be based on measured meteorological data (radar or ground meteorological station). I hope I answered your question, if not please let me know.
Natalie Unterstell May 7, 2016 11:35 Member 5 \| Share via:	Dear proponent, Please bear in mind the following criteria: novelty feasibility impact presentation It would be great if you could explain in your proposal What climate projections would you adopt in order to quantify the insurance to be provided. Best
Rita Marteleira May 17, 2016 02:03 Fellow 6 \| Share via:	Dear proposal author(s) Thank you again for submitting your proposal to the adaptation contest. Just a friendly reminder: you only have 6 days left to update and improve your proposal before the contest closure on May 23rd! Keep up the good work and let us know if you have any queries! Best wishes, Rita Marteleira Adaptation Contest Fellow
Patrick Ray May 23, 2016 10:46 Fellow 7 \| Share via:	Monsoon insurance, Last day to refine the proposal. Looking forward to seeing the final version. Question - if all buy in, would all farmers suffer the same monsoon damages coincidently? Would all claim at once, bankrupting the system? I'm not sure I understand how this works. Maybe walk through an example application from Nepal (or maybe Bangladesh/India)? Looking forward to better understanding how it works. Good luck.
Sergio Pena May 23, 2016 09:25 Catalyst 8 \| Share via:	Dear participants, would be interested to know more on your proposal, particularly, the specific risk or risks to be faced by the insurance to make it feasible and the amount of money to be involved in order to pay the insurance. As well, if this will be an insurance established by law or just as a possible insurance offered by a private entity or the State. Cheers.