IMPROVING AGRICULTURAL INSURANCE IN UZBEKISTAN: RISK MODELS AND NEW MECHANISMS
Article Sidebar
Main Article Content
Abstract
This research paper examines the current state, challenges, and development prospects of agricultural insurance in Uzbekistan, with a particular focus on integrating modern risk assessment models and innovative insurance mechanisms. The study analyzes the shortcomings of traditional insurance practices, including limited coverage, insufficient risk diversification, and low participation among farmers. By exploring international best practices, such as index-based insurance, satellite monitoring, and digital claim-processing tools, the research identifies effective approaches that can enhance transparency, reduce costs, and improve the resilience of agricultural producers. The paper proposes a comprehensive framework for strengthening agricultural insurance through advanced risk modeling, institutional reforms, and the adoption of public–private partnership mechanisms. These findings contribute to improving financial stability in the agricultural sector and promoting sustainable rural development in Uzbekistan.
Article Details
References
1. Asian Development Bank (2020). Agriculture and Water Sector Assessment for Uzbekistan. Manila: ADB.
2. Barnett, B. J., & Mahul, O. (2007). Weather index insurance for agriculture and rural areas in lower-income countries. American Journal of Agricultural Economics, 89(5), 1241–1247.
3. Carter, M., de Janvry, A., Sadoulet, E., & Sarris, A. (2020). Index insurance for developing country agriculture: A reassessment. Annual Review of Resource Economics, 12, 419–439.
4. Greatrex, H., Hansen, J., Garvin, S., Diro, R., Blakeley, S., Le Guen, M., Rao, K., & Osgood, D. (2015). Scaling up index insurance for smallholder farmers: Recent evidence and insights. CGIAR Research Program on Climate Change, Agriculture and Food Security (CCAFS).
5. International Fund for Agricultural Development (2018). Weather Index-Based Insurance in Developing Countries: Performance and Lessons Learned. Rome: IFAD.
6. Smith, V., & Watts, M. (2019). Index insurance for climate risk management and rural development. Global Food Security, 23, 100–112.
7. World Bank (2019). Agricultural Risk Management in Central Asia: Assessment and Options for Enhancing Resilience. Washington, DC: World Bank.
8. Uzbekistan Ministry of Agriculture (2023). Annual Report on Agricultural Development and Climate Risks. Tashkent: Government of Uzbekistan.
9. Mahul, O., & Stutley, C. (2010). Government Support to Agricultural Insurance: Challenges and Options for Developing Countries. Washington, DC: World Bank