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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

33765 ­ ­ 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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AUTHORS

 

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. Shahla

Baku State University

   

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Maarif. Yusiphov

Vegetable Research Institute

   

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Samir. Maharramov

Doctoral student of the Azerbaijan Tourism and Management University

   

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Ramiz. Isgandarov

Department of "Economics and Statistics" of Azerbaijan Technical University

  prof, dr  

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Nijat. Muradov

Ph.D. student of the Institute of Economics, Ministry of Science and Education of the Republic of Azerbaijan

   

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Namig. Shalbuzov

Deputy Director of the Agricultural Economics Research Center

  Doctor of Philosophy in Economics  

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Alizamin. Guliyev

Azerbaijan Technical University, Ph.D.

   

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Firdovsi. Fikratzade

Doctoral student at the Institute for Scientific Research on Economic Reforms

  Doctor of Philosophy in Economics  

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Orkhan. Balayev

Education Center of Tax Ministry of Azerbaijan Republic

   

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Naila. Aliyeva

Associate professor of the Azerbaijan State Economic University (UNEC) Doctoral student of the Agro Researches Center

  Doctor of Philosophy in Economics  

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Gulnar. Bashirova

Master of Azerbaijan State University of Economics (UNEC)

   

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Ulviyya. Rasulova

Azerbaijan State University of Economics (UNEC)

   

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Akif. Aghbabali

Baku State University

   

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Farman. Guliyev

Scientific Research Institute of Fruit-growing and Tea-growing

   

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Esmira. Latifova

Director Adviser, Agricultural Economics Research Center

   

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Jubril. Animashaun

Department of Economics, The University of Manchester, UK / Department of Agricultural Economics, University of Ilorin, Nigeria