Description: Jamaica : Toward a Strategy for Financial Weather Risk Management in Agriculture

Cover Image

QR Code

Jamaica : Toward a Strategy for Financial Weather Risk Management in Agriculture

This report forms part of the technical assistance provided by the World Bank under the Non-lending Technical Assistance Program for the Caribbean 'market-based agriculture risk management in the Caribbean.' The program is largely finance...

Full description

Bibliographic Details
Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCESS TO INSURANCE ACCIDENT ACCOUNTING AGENTS AGRICULTURAL BANKS AGRICULTURAL COMMODITIES AGRICULTURAL CREDIT AGRICULTURAL DEVELOPMENT AGRICULTURAL INSURANCE AGRICULTURAL LAND AGRICULTURAL LOAN AGRICULTURAL PRODUCTION AGRICULTURAL SECTOR APPLICATIONS ATLANTIC HURRICANE BANKS BASIS RISK BENEFICIARIES BENEFICIARY BUDGETING CAPACITY BUILDING CAPITAL MARKETS CASH TRANSFERS CATASTROPHIC EVENTS CATASTROPHIC RISKS CD CLIMATE CLIMATE INSURANCE CLIMATES COMMERCIAL BANKS COMMERCIAL INSURANCE COMPETITIVENESS CONSUMERS CONSUMPTION SMOOTHING CONTRACT DESIGN CONTRACT ENFORCEMENT CONTRACTUAL RELATIONSHIP CROP INSURANCE CROP LOSSES CYCLONE EVENTS DEFAULT SITUATION DELIVERY MECHANISM DELIVERY MECHANISMS DERIVATIVE DEVELOPMENT BANK DISASTER DISASTER RECOVERY DISASTER RELIEF DISASTER RESPONSES DONOR COMMUNITY DROUGHT DROUGHTS DURABLE EARTHQUAKE EARTHQUAKES ECONOMIC GROWTH ENFORCEMENT MECHANISMS EQUIPMENT EXPENDITURES EXPORTERS EXTERNAL SHOCKS EXTREME EVENT EXTREME EVENTS EXTREME RAINFALL EXTREME WEATHER EXTREME WEATHER EVENTS FARMER FARMERS FEASIBILITY FINANCIAL CRISIS FINANCIAL INSTRUMENT FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL PRODUCTS FINANCIAL RESOURCES FINANCIAL RISK FINANCIAL RISK MANAGEMENT FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL TRANSFER MECHANISM FIRE FIRE INSURANCE FLOOD FLOOD DAMAGES FLOODING FLOODS FLOW OF INFORMATION FOOD EXPENDITURES FOOD PRICES FRAUD FUND MANAGEMENT GENERAL INSURANCE GOVERNMENT BUDGET GOVERNMENT SUBSIDIES GOVERNMENT SUPPORT HEAVY RAIN HOLDING HOLDINGS HURRICANE HURRICANE SEASON HURRICANES IMPACT EVENTS INCIDENCE OF POVERTY INCOME INCOME SMOOTHING INCOME VOLATILITY INDEMNITY INDEMNITY PAYMENT INFLATION INFORMATION SYSTEM INSURABLE INTEREST INSURANCE INSURANCE APPLICATIONS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CONTRACT INSURANCE CONTRACTS INSURANCE COVERAGE INSURANCE MARKETS INSURANCE PAYMENTS INSURANCE POLICIES INSURANCE POLICY INSURANCE PREMIUMS INSURANCE PRODUCT INSURANCE PRODUCTS INSURANCE RISK INSURANCE SCHEME INSURANCE SCHEMES INSURANCE SECTOR INTERNATIONAL MARKET INTERNATIONAL MARKETS INTERNATIONAL REINSURANCE INVENTORY INVESTING LACK OF COLLATERAL LACK OF COMPETITION LANDSLIDE LANDSLIDES LINES OF CREDIT LIVESTOCK INSURANCE LOAN LOAN EXPOSURE LOAN PORTFOLIO LOCAL GOVERNMENT LOCAL INSURANCE MARKET MARKET DEVELOPMENT MARKET DISTORTIONS METEOROLOGICAL OFFICE METEOROLOGICAL ORGANIZATION MITIGATION MITIGATION MEASURES MORAL HAZARD MORAL HAZARDS NATURAL CATASTROPHE NATURAL CATASTROPHES NATURAL DISASTER NATURAL DISASTERS NATURAL HAZARDS NONGOVERNMENTAL ORGANIZATION OIL PRICE OWNERSHIP STRUCTURE POLITICAL STABILITY POOR PORTFOLIO POVERTY REDUCTION PREMIUM PAYMENTS PRIVATE FINANCIAL SECTOR PRIVATE INSURANCE PROGRAMS PROPERTY INSURANCE PUBLIC ASSETS PUBLIC BUDGET PUBLIC INSURANCE PUBLIC INVESTMENTS REGISTRY SYSTEM REGULATORY FRAMEWORK REINSURANCE REINSURANCE CAPACITY REINSURANCE CONTRACTS REINSURANCE MARKETS REINSURER REINSURERS RELIEF REMITTANCES RETURN RISK ANALYSIS RISK EXPOSURE RISK INSURANCE RISK MANAGEMENT RISK MANAGEMENT SYSTEM RISK MANAGEMENT TOOLS RISK PREMIUM RISK REDUCTION RISK TRANSFER RURAL RURAL AREAS RURAL DEVELOPMENT SAFETY SAFETY NET SAFETY NETS SAVINGS SMALL FARMS STORMS SUSTAINABILITY TECHNICAL ASSISTANCE TRADING TRADING PARTNERS TRANSACTION TRANSACTION COSTS TREATY TREATY REINSURANCE TROPICAL CYCLONE TROPICAL CYCLONE ACTIVITY TROPICAL CYCLONE IMPACTS TROPICAL CYCLONES TROPICAL STORM UNDERWRITERS UNDERWRITING WARNING SYSTEM WEATHER DERIVATIVES WEATHER INSURANCE WIND SPEED WIND SPEEDS
Online Access:	http://documents.worldbank.org/curated/en/2009/11/16272433/jamaica-toward-strategy-financial-weather-risk-management-agriculture http://hdl.handle.net/10986/12457

Description
Summary:	This report forms part of the technical assistance provided by the World Bank under the Non-lending Technical Assistance Program for the Caribbean 'market-based agriculture risk management in the Caribbean.' The program is largely financed by the European Union All Agriculture Commodities Program (AACP) Initiative and contributions from the International Fund for Agriculture Development (IFAD) and the World Bank. This document provides technical input for designing a national strategy for addressing the financial weather risks facing the agricultural sector of Jamaica. As such, it identifies the various options from current available financial risk transfer instruments for addressing crop weather risks for small farmers (livestock risks are not directly addressed in this report) and identifies the public investments needed for supporting market development of the agricultural insurance market. The report is structured in five sections to facilitate its presentation. The first two sections present a snapshot of the Jamaican economy and agricultural sector, and the current situation of agricultural insurance; third section addresses a set of key issues for designing a government strategy for agricultural financial weather risk management; fourth section contains the elements of public policy and investments to support market development for agricultural insurance, and various illustrations of how to structure financial weather risk management instruments for the sector. The report concludes with a short section containing final remarks and recommendations.