Volume 4, Issue 1, January 2019, Page: 32-40
Prospects of Weather Index-Based Crop Insurance in Bangladesh
Md. Tareq Hasan, Department of Business Administration, Sheikh Fazilatunnesa Mujib University, Jamalpur, Bangladesh
Received: Jan. 9, 2019;       Accepted: Feb. 11, 2019;       Published: Feb. 27, 2019
DOI: 10.11648/j.ijae.20190401.15      View  25      Downloads  20
Agricultural sectors of Bangladesh are frequently affected by natural disasters such as droughts, excessive rainfall, floods, flashflood, heavy fog, earthquakes, storm, cyclones, salinity and landslides. Agriculture or crop insurance is an important method by which farmers can stabilize their income and investment against disastrous effect of losses for natural hazards or low market price of the crops. Crop insurance helps the farmers of developing and under developed countries to initiate production activities after a bad agricultural period. At first, Green Delta Insurance Company has started Weather Index Insurance since 2015 by supporting of World Bank group in Bangladesh. Later on, Sadharan Bima Corporation (SBC) also proposed another new project named ‘Weather Index-Based Crop Insurance (WIBCI)’. Agriculture or crop insurance should be based on risk management strategy. The purpose of this study is to implement and further possibility of weather index-based crop insurance in Bangladesh and descriptive method is used to represent the information. The possible result of this study is continuous crops production activities of the farmers after a natural disaster. Bangladesh should have started agriculture or crop insurance system earlier for better output from agricultural sectors.
Agriculture, Crop, Disaster, Insurance, GDIC, WIBC
To cite this article
Md. Tareq Hasan, Prospects of Weather Index-Based Crop Insurance in Bangladesh, International Journal of Agricultural Economics. Vol. 4, No. 1, 2019, pp. 32-40. doi: 10.11648/j.ijae.20190401.15
Copyright © 2019 Authors retain the copyright of this article.
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