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Home 36. April 2021 Theoretical aspects of index insurance in agriculture and prospects of application in Azerbaijan

Theoretical aspects of index insurance in agriculture and prospects of application in Azerbaijan

Ibrahim Jafarov Hasan, Corresponding member of ANAS, prof
rektor@adau.edu.az

Maharram Huseynov Jalal, prof, dr
h-tural@rambler.ru

Elchin Salahov Arif, Doctor of Philosophy in Economics
elchinsalaho@mail.ru

39223 ­ ­ AZ ­ ­ 36. April 2021 ­ ­­ ­ system risks traditional insurance index insurance homogeneous and local risks weather and productivity index

 

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Abstract

Recently, in order to effectively manage systemic risks in the agriculture of developed and developing countries, an index-based insurance model based on weather data, which is considered an innovative insurance product, is actively used. Index insurance is considered as an alternative to the traditional insurance model and plays an important role in overcoming many problems that traditional insurance cannot solve. The article examines the essence, mechanism of operation, advantages and disadvantages of indexed insurance. Prospects for the application of the new insurance product in Azerbaijan's agriculture were analyzed on the basis of the study of world experience in the relevant field. At the same time, the problems facing the application of the index insurance model were investigated.

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Mushfiq. Tukanov

Ph.D. student of the Agricultural Research Center

   

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Sevil. Maharramova

PhD student of the Scientific Research Institute of Agromechanics

   

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Alizamin. Guliyev

Ph.D. candidate of the Azerbaijan Technical University

   

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Elnur. Alakbarov

Dissertant of the Agricultural Economics Research Center

   

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Andriy. Popovych

Instytut Ekonomiki Rolnictwa i Gospodarki Żywnościowej, Warszawa, Polska / Agricultural and Food Economics State Research Institute, Warsaw, Poland

  Ph.D.  

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Hijran. Mirzayeva

Head of the Department of the Azerbaijan Academy of Labor and Social Relations

  Doctor of Philosophy in Economics  

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Ayaz. Museyibov

Center for Analysis of Economic Reforms and Communication

   

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Yunus. Sadigov

Azerbaijan National Academy of Sciences, Institute of Economics, Lead Researcher

  Ph.D., docent  

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Konul. Mamedova

Ph.D. student of the Agricultural Economics Research Center

   

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Ceyran. Babirova

Ph.D. student Azerbaijan State University of Economics (UNEC)

   

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Lotanna. Emediegwu

Department of Economics, The University of Manchester, UK | Department of Agricultural Economics, University of Ilorin, Nigeria | Department of Economics, Policy and International Business, Manchester Metropolitan University, UK

   

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Firidun. Taghiyev

Head of department of Ministry of Agriculture of Azerbaijan Republic

   

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. Shahla

Baku State University

   

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Aygun. Salimova

Student of Azerbaijan State University of Economics (UNEC)

   

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Arshad. Yashar

Head of land identification and geographical data sector of the Land use Control Department of the Ministry of Agriculture of the Republic of Azerbaijan

   

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Gulsum. Badirzade

Ph.D. student of the Azerbaijan Cooperation University