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

16423 ­ ­ 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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Ramiz. Isgandarov

Department of "Economics and Statistics" of Azerbaijan Technical University

  prof, dr  

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Hagar. Namazova

Ph.D. candidate of the Azerbaijan State Economic University (UNEC)

   

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Sarvan. Jafarov

Ph.D. student of the Agricultural Economics Research Center

   

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Farman. Karimov

Research Institute of Plant Protection and Technical Plants

   

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Teymur. Nagibeyli

Ph.D. student of the Agricultural Economics Research Center

   

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Nargiz. Hasanova

Azerbaijan State Agrarian University

   

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Emilya. Shukurova

диссертант Бакинского государственного университета

   

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Yusif. Abayev

Ph.D. student of the İnstitute of Economics of ANAS

   

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Konul. Mamedova

Ph.D. student of the Agricultural Economics Research Center

   

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Mushfiq. Tukanov

Ph.D. student of the Agricultural Research Center

   

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Akif. Valiyev

Agricultural Economics Research Center

  Doctor of Economics  

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Alamdar. Asgarov

Vegetable Research Institute

   

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Esmira. Latifova

Director Adviser, Agricultural Economics Research Center

   

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Leyla. Hajiyeva

Ph.D. student of the Agricultural Economics Research Center

   

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Tural. Mammadzade

Ph.D. student of

   

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Zakir. Guliyev

Baku Business University

  Doctor of Philosophy in Economics