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Agricultural Insurance: a matter of mutual cooperation

Explore the role of mutual cooperation and trust in agricultural insurance as a key element for developing and developed economies. Discover insights on the importance of insurance and the mutual understanding of risks. Learn about IAIS standards and the historical roots of mutual insurance.

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Agricultural Insurance: a matter of mutual cooperation

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  1. Agricultural Insurance:a matter of mutual cooperation Dirk Witteveen, De Nederlandsche Bank IAIS ASSAL Training Seminar, 27 April 2006

  2. Outline • Role of insurance • Some characteristics • IAIS as knowledgebase • Mutual insurance • Mutual cooperation and trust

  3. 1. Role of insurance • Essential part of financial sector • Facilitates entrepreneurship • Important for both developed and developing economies

  4. 2. Some characteristics • Insurance enabled by mutual cooperation • Insurance part of a risk mitigating chain • Risks should be quantifiable and diversifiable • Role of government, regulator and supervisor • Insurance is about trust

  5. 3. IAIS as knowledgebase • Standard setting • Giving guidance • Relationships • Knowledgebase

  6. 4. Mutual insurance • Deep historical roots • Includes non-financial help, education, support • Also self regulation and self control • Still providing modern solutions

  7. 5. Mutual cooperation and trust • Implies mutual understanding, controlling and mitigating of risks • Example: AGROASEMEX • Keep an eye on other developments Agricultural insurance on the base of mutual cooperation and mutual trust will strongly support developing economies

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