Arias Carballo, Diegodos Reis, Laura2014-02-122014-02-122013-03https://hdl.handle.net/10986/17030Agricultural insurance is a tool to manage agricultural production risks and help producers reduce the effects of negative shocks and improve the allocation of resources. It provides a mechanism to transfer a variety of risks faced by crop, livestock, forestry, or aquaculture production. The small island nations of the Caribbean are highly exposed to tropical cyclones, hurricanes, and other weather hazards-and are particularly vulnerable to drastic losses from natural disasters. A single catastrophic event can affect a large proportion of clients, and this is often reflected in the insurance premiums charged by local insurance companies, especially if they only underwrite risk in one or a few neighboring islands (as is common in the Caribbean). To be able to pay many claims all at once, insurers must either purchase their own insurance (re-insurance), which is expensive, due to the high exposure to extreme weather events, or hold a large amount of cash reserves. The development of market-based agricultural insurance options in the Caribbean can range from regional and macro-level applications (sector, country, or groups of countries) to the micro-level (farmers).en-USCC BY 3.0 IGOACCESS TO INSURANCEAGRICULTURAL INSURANCEAGRICULTURAL PRODUCTIONALLOCATIONAPPLICATIONSBANKSCATASTROPHE INSURANCECATASTROPHE RISK FINANCINGCATASTROPHIC EVENTCLIMATECLIMATE CHANGECOMMERCIAL INSURANCECOVERAGECROP DIVERSIFICATIONCROP INSURANCEDEBTDELIVERY MECHANISMSDISASTERDISASTER AIDDISASTER ASSISTANCEDROUGHTDROUGHTSEARTHQUAKEEARTHQUAKESEMERGENCY RESPONSEEXTREME WEATHEREXTREME WEATHER EVENTSFARMERSFEASIBILITYFINANCIAL CHALLENGESFINANCIAL PRODUCTSFLOODFLOODINGFLOODSGENERAL INSURANCEHURRICANEHURRICANE SEASONHURRICANESINCOMEINDEMNITYINSURANCE COMPANIESINSURANCE COMPANYINSURANCE CONTRACTSINSURANCE INDUSTRYINSURANCE INSTRUMENTSINSURANCE LAWINSURANCE MARKETINSURANCE OPTIONSINSURANCE POLICIESINSURANCE PREMIUMSINSURANCE REGULATIONSINSURANCE SCHEMEINSURANCE SCHEMESINSURERSLEGISLATIONLIVESTOCK INSURANCENATURAL DISASTERSPERSONAL SAVINGSPORTFOLIOPRIVATE INSURANCEPROGRAMSREINSURANCEREINSURERSRESERVESRISK ASSESSMENTRISK INSURANCERISK MANAGEMENTRISK PROFILESRISK TRANSFERSAVINGSSTORMTROPICAL CYCLONESTROPICAL STORMSWARNING SYSTEMWEATHER EVENT10.1596/17030