Factors Affecting Agricultural Insurance Acceptability of Paddy Farmers in East Java, Indonesia

Sujarwo, Sujarwo; Rukmi, Sapto Mei Novita

doi:10.17358/jma.15.2.143

Cited by 5 publications

(4 citation statements)

References 5 publications

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“…The result contradicts Zheng et al (2018) who found a negative influence of income on aquaculture insurance participation. Nonetheless, in line with Sujarwo and Rukmi (2018).…”

Section: Perceptions Of Aquaculture Insurance Prospects In Ghanamentioning

confidence: 59%

Prospects, determinants and profitability of aquaculture insurance among fish farmers in the Eastern Region of Ghana

Mensah

Amrago

Mensah³

et al. 2021

WJSTSD

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PurposeAquaculture insurance has the potential of redressing climate-change because it serves as an alternative source of finance in the event of unforeseen circumstances. To this end, the authors examine the prospects, determinants and profitability of aquaculture insurance among fish farmers in the Eastern region of Ghana.Design/methodology/approachA total of 140 fish farmers were sampled for the study. Thematic analysis was used to determine perceived aquaculture insurance prospects. The Heckman's two-stage model, profitability index (PI) and return on investment (ROI) was employed to respectively determine the factors influencing aquaculture insurance participation and amount intensity and the profitability of aquaculture.FindingsThe thematic analysis revealed three themes on the perception of aquaculture insurance prospects: loss recovery, farm renovation and promotes agriculture. Different sets of demographic and institutional factors have varying influences on aquaculture insurance participation and amount intensity. Profitability index (PI) and return on investment (ROI) were respectively 2.07 and 3.2%.Originality/valueThe research provides relevant information on perceived aquaculture insurance prospects, aquaculture insurance participation, and amount intensity and profitability of aquaculture which can contribute to enhancing aquaculture insurance and the aquaculture industry in Ghana.

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“…The result contradicts Zheng et al (2018) who found a negative influence of income on aquaculture insurance participation. Nonetheless, in line with Sujarwo and Rukmi (2018).…”

Section: Perceptions Of Aquaculture Insurance Prospects In Ghanamentioning

confidence: 59%

Prospects, determinants and profitability of aquaculture insurance among fish farmers in the Eastern Region of Ghana

Mensah

Amrago

Mensah³

et al. 2021

WJSTSD

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“…To test the compatibility coefficient, we can use the Wald test (Sidi et al, 2017.b;Sujarwo & Rukmi, 2018)…”

Section: B) Wald Testmentioning

confidence: 99%

Analyzing the community decision making to purchase pet insurance: Case study of animal lovers in Indonesia

Susanti¹,

Ridwan²,

Riaman³

et al. 2023

10.5267/j.dsl

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This study aims to measure people's decision-making to buy their pet insurance and compare it with the amount of insurance premium rates offered. It is important due to the increase in people's income which has triggered the birth of a community of pet lovers as part of the middle-class people’s lifestyle in Indonesia. The survey data was conducted using the Stated Preference (SP) format through questionnaires and interviews to determine the public response to pet insurance premiums. The collected data were analyzed using descriptive methods, decision-making analysis was on the basis of the choice of the dichotomous Contingent Valuation Method (CVM), and logistic regression analysis. Based on the calculation analysis using the logit method shows that the ability of the public to pay pet insurance premiums is IDR289,454.54. Analysis of calculations using the Turnbull method was obtained at IDR365,000.00. The results of the WTP amount, both using the logit method and using the Turnbull method, are greater than the minimum premium amount offered which is IDR190,000.00. The results of this study indicate that the premium rates for pet insurance offered are still within reasonable limits, compared to the size of the decision-making by the animal lover community in Indonesia. This provides a very good prospect for insurance companies that have insurance products for pets in Indonesia. This study was conducted to provide empirical evidence that the decision-making of the animal lover community is greater than the premium rate for pet insurance that has been offered. Thus, this research strongly supports the development of pet insurance companies in Indonesia, which can provide pet protection to stay healthy and well looked after.

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“…Rice production in Indonesia often suffers losses due to crop failure. It is influenced by several factors, including drought, flooding, and plant pests [4][5][6][7]. To minimize losses due to crop failure, it is necessary to estimate the risk of these losses.…”

Section: Introductionmentioning

confidence: 99%

Mathematical Modeling for Estimating the Risk of Rice Farmers’ Losses Due to Weather Changes

2022

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This paper discusses the relationship between weather and rice productivity modeled using the Cobb–Douglas production function principle, with the hypothesis that rice production will increase in line with the increase in average rainfall, wind speed, and temperature every month and then decrease if the weather conditions exceed the threshold. As a result, farmers have the risk of losing rice production. To overcome this problem, we try to estimate the value of the risk. The purpose of this study is to estimate the risk of losses that occurred in rice plants due to weather changes. The method used in this study is risk estimation with the Tail Value at Risk (TVaR) approach. In addition to TVaR, it is estimated simultaneously with Value at Risk (VaR) and Conditional Value at Risk (CVaR). This study uses weather data consisting of rainfall data, wind speed, and air temperature collected from geophysical and meteorological data. Meanwhile, yield data were obtained and processed from the Central Statistics Agency and the West Java Agricultural Service. The data used are data from 2008 to 2021. There are two main parts of the results in this study, namely mathematical analysis and data analysis. The mathematical analysis is a risk model derivation process, which includes TVaR risk measurement. The data analysis process is a simulation of the estimated risk of rice production loss. The results obtained from this study are the value of opportunity risk of loss based on the VaR, CVaR, and TVaR approaches. The conclusion of this study is that the rice plants have a risk of loss in the form of reduced yields caused by weather changes. Farmers can plan to overcome this loss problem, by setting up a reserve fund. Risk of loss can be managed through the rice agricultural insurance program. This is in line with the Indonesian government’s program through the ministry of agriculture. Thus, farmers, insurance companies, and the government can manage the risk of losing rice yields.

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Factors Affecting Agricultural Insurance Acceptability of Paddy Farmers in East Java, Indonesia

Cited by 5 publications

References 5 publications

Prospects, determinants and profitability of aquaculture insurance among fish farmers in the Eastern Region of Ghana

Prospects, determinants and profitability of aquaculture insurance among fish farmers in the Eastern Region of Ghana

Analyzing the community decision making to purchase pet insurance: Case study of animal lovers in Indonesia

Mathematical Modeling for Estimating the Risk of Rice Farmers’ Losses Due to Weather Changes

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