Agriculture Insurance
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Agriculture is exposed to a wide variety, complexity, and scale of risks, especially for smallholder farmers, and can be costly to recover from.
This brief shows the many risk classes agriculture is exposed to, especially rain-fed agriculture, which, naturally, is more vulnerable to the risk of too much or too little rainfall. It shows the traditional risk-coping strategies that have largely shaped farmers’ attitudes toward risk and risk management. Finally, it discusses the global trends, challenges, and new approaches to expand the reach of agriculture insurance to reduce risks and increase the financial resilience of farmers.