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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

38797 ­ ­ 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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Elbrus. Akbarov

Azerbaijan State University of Economics (UNEC), senior lecturer

   

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Bakhtiyar. Babashli

National Aviation Academy, PhD Candidate

  Ph.D.  

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Emin. Ahmedzadeh

Doctoral student of the Agricultural Research Center

  Doctor of Philosophy in Economics  

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Tahmasib. Huseynov

Azerbaijan State University of Economics (UNEC)

  Doctor of Philosophy in Economics  

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Fuad. Rzayev

Ph.D. student of the Azerbaijan Technical University

   

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Israfil. Ismayilov

Member of the Russian Academy of Natural Sciences

  Prof. Dr.  

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Eljan. Abbasov

Ph.D. student of Azerbaijan State Agrarian University

   

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Arzu. Huseyn

Azerbaijan Tourism and Management University

  Ph.D., docent  

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Rovshan. Guliyev

Azerbaijan State Economic University (UNEC)

  prof, dr  

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Aydin. Asgarov

Institute of Genetic Resources of ANAS

   

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Orkhan. Balayev

Education Center of Tax Ministry of Azerbaijan Republic

   

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Parviz. Aliyev

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

   

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Tamraz. Tamrazov

Vegetable Research Institute

   

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Nurida. Gasimova

Ph.D. student of Azerbaijan University of Cooperation

   

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Alizamin. Guliyev

Ph.D. candidate of the Azerbaijan Technical University

   

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Nneka. Osadolor

Department of Economics, University of Benin, Nigeria Department of Economics, University of Ibadan, Nigeria