Presentations for Agricultural Insurance: Innovations, Policies, and Pathways to Scale

Farm households face numerous risks that can discourage investments and trap them in poverty. Insurance should be a useful tool to reduce these hazards, but agricultural risks are inherently difficult to insure against. Willingness and capacity to pay insurance premiums also range widely.

The lack of adequate agricultural insurance is a major concern for governments, especially as climate change increases both the likelihood and severity of climate-related losses. Recent technological innovations in product quality and proven success in bundling insurance products provide new opportunities to increase the availability and use of insurance by smallholder farmers.

This policy seminar will convene key stakeholders present in Washington, DC during the World Bank and International Monetary Fund’s Spring Meetings to sustain momentum and shape a forward-looking agenda for innovation and impact. It will highlight why continued policy attention and investment remain essential, despite past challenges in sustaining agricultural insurance markets. Speakers will also discuss existing approaches that hold promise for scaling insurance and priority policy reforms and areas for continued innovation to facilitate scaling.