How can a farmer tell whether an index insurance contract is any better than a lottery ticket? This is the broader question AMA Innovation Lab director Michael Carter, a UC Davis professor of agricultural and resource economics, addresses in an article published on the Foundation for World Agriculture and Rurality blog on November 21, 2017.
Unlike certified seeds, index insurance has no national or industry certifications for quality. Also unlike certified seeds, farmers have no way of knowing the quality of the index insurance products available on the market. Safe Minimum Standards for index insurance could provide the security needed for this proven risk-management tool to flourish.
Read more at the FARM blog.