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

26845 ­ ­ AZ ­ ­ 36. April 2021 ­ ­­ ­ system risks traditional insurance index insurance homogeneous and local risks weather and productivity index

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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AUTHORS

 

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Mushfiq. Tukanov

Ph.D. student of the Agricultural Research Center

   

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Chilenay. Abishova

Ph.D. student of the Agricultural Economics Research Center

   

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Orkhan. Balayev

Education Center of Tax Ministry of Azerbaijan Republic

   

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Said. Mustafayev

Ph.D. student of the Agricultural Research Center

   

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Lala. Jabbarlı

Ph.D. student of the Agricultural Economics Research Center

   

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Irada. Huseynova

Vice-president of Azerbaijan National Academy of Sciences Director of the Institute of Molecular Biology and Biotechnology, ANAS

  academician  

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Sabina. Valiyeva

Doctoral student of the Agro Researches Center

  Ph.D., docent  

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Javad. Gojamanov

Ph.D. student of Baku State University

   

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Huseynaga. Asadov

Ministry of Science and Education of the Republic of Azerbaijan, Institute of Dendrology

  Ph.D., ass, pr  

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Zohra. Abbasova

Ph.D. student of the Agro Researches Center

   

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Yunus. Sadigov

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

  Ph.D., docent  

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Parviz. Aliyev

Chief of department, Agricultural Research Center
Ph.D. student of the Agricultural Research Center

   

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Leyla. Hajiyeva

Ph.D. student of the Agricultural Economics Research Center

   

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Gulnar. Bashirova

Master of Azerbaijan State University of Economics (UNEC)

   

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Samir. Akhmedov

Ph.D. student of the Agricultural Economics Research Center

   

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Islam. Ibrahimov

Baku Business University

  prof, dr