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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

29916 ­ ­ 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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Vahid. Abbasov

Head of the Department of Economics, Baku State University

  prof, dr  

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Nurida. Gasimova

Ph.D. student of Azerbaijan University of Cooperation

   

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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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Najiba. Hajiyeva

Baku State University

  Doctor of Philosophy in Economics  

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Aydin. Asgarov

Institute of Genetic Resources of ANAS

   

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Aykhan. Gadashov

Head of the portal azexport.az Ph.D. student of the Agricultural Research Center

   

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Jahani. Nusretzade

Scientific Research Institute of Fruit-growing and Tea-growing

   

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Galib. Hajiyev

Department of “Economy of enterprise” of Azerbaijan State University of Economics (UNEC)

  Ph.D., docent  

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Ayaz. Museyibov

Center for Analysis of Economic Reforms and Communication

   

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Farman. Guliyev

Scientific Research Institute of Fruit-growing and Tea-growing

   

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Fakhraddin. Aghayev

Vegetable Research Institute

   

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Natig. Mirzayev

Lankaran State University

   

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Ramiz. Isgandarov

Department of "Economics and Statistics" of Azerbaijan Technical University

  prof, dr  

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Samir. Maharramov

Doctoral student of Azerbaijan Tourism and Management University

   

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Mehman. Rzayev

Azerbaijan RPA Hydrotechnics and Melioration

  doctor of agrarian sciences  

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Vusala. Babayeva

Doctor of Science Program of Agricultural Economics Research Center

  Doctor of Philosophy in Economics