Livestock mortality insurance: development and challenges
Abstract
Purpose
The purpose of this research is examine the development of livestock mortality insurance, and associated challenges, in order to provide an improved understanding regarding the operation of livestock mortality insurance.
Design/methodology/approach
In a many countries, livestock mortality insurance has been either unavailable or underdeveloped. A descriptive analysis is provided regarding the background and development of livestock mortality insurance, along with an example.
Findings
Livestock mortality insurance is considerably more complex than crop insurance, and some of the complexities of livestock mortality insurance include multi‐stage production, consequential losses, occasional large event losses, animal health management, moral hazard, and adverse selection.
Originality/value
This study provides background and development information regarding livestock mortality insurance, and also highlights a number of important differences between livestock mortality insurance and crop insurance.
Keywords
Citation
Boyd, M., Pai, J. and Porth, L. (2013), "Livestock mortality insurance: development and challenges", Agricultural Finance Review, Vol. 73 No. 2, pp. 233-244. https://doi.org/10.1108/AFR-04-2013-0019
Publisher
:Emerald Group Publishing Limited
Copyright © 2013, Emerald Group Publishing Limited