Microinsurance : A Case Study of the Indian Rainfall Index Insurance
Market

Giné, Xavier; Menand, Lev; Townsend, Robert; Vickery, James

dc.creator	Giné, Xavier
dc.creator	Menand, Lev
dc.creator	Townsend, Robert
dc.creator	Vickery, James
dc.date	2012-03-19T18:43:40Z
dc.date	2012-03-19T18:43:40Z
dc.date	2010-10-01
dc.date.accessioned	2023-02-17T21:07:27Z
dc.date.available	2023-02-17T21:07:27Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20111116161636
dc.identifier	http://hdl.handle.net/10986/4002
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/244972
dc.description	Rainfall index insurance provides a payout based on measured local rainfall during key phases of the agricultural season, and in principle can help rural households diversify a key source of idiosyncratic risk. This paper describes basic features of rainfall insurance contracts offered in India since 2003, and documents stylized facts about market demand and the distribution of payouts. The authors summarize the results of previous research on this market, which provides evidence that price, liquidity constraints, and trust all present significant barriers to increased take-up. They also discuss potential future prospects for rainfall insurance and other index insurance products.
dc.language	English
dc.relation	Policy Research working paper ; no. WPS 5459
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ACCESS TO INFORMATION
dc.subject	ACCOUNTING
dc.subject	ADMINISTRATIVE COSTS
dc.subject	ADMINISTRATIVE DATA
dc.subject	AGRICULTURAL ECONOMICS
dc.subject	AGRICULTURAL INSURANCE
dc.subject	AGRICULTURAL INSURANCE SCHEME
dc.subject	ALLOCATION
dc.subject	BANK ACCOUNT
dc.subject	BANK POLICY
dc.subject	BANKS
dc.subject	BASIS RISK
dc.subject	BEHAVIORAL ECONOMICS
dc.subject	BONDS
dc.subject	BORROWING
dc.subject	BROKERS
dc.subject	BUSINESS SCHOOL
dc.subject	CALCULATIONS
dc.subject	CAPITAL MARKET
dc.subject	CASH PAYMENT
dc.subject	CLIMATE
dc.subject	CLIMATE CHANGE
dc.subject	CONSUMER
dc.subject	CONSUMER CREDIT
dc.subject	CONSUMER LOAN
dc.subject	CONSUMER PROTECTION
dc.subject	CONSUMPTION PATTERNS
dc.subject	CONSUMPTION SMOOTHING
dc.subject	CONTRACT DESIGN
dc.subject	CONTRIBUTION
dc.subject	COUPONS
dc.subject	CREDIT CONSTRAINTS
dc.subject	CREDIT PRODUCTS
dc.subject	CROP INSURANCE
dc.subject	CROP INSURANCE SCHEME
dc.subject	DAMAGES
dc.subject	DEBT
dc.subject	DEBT CAPACITY
dc.subject	DEVELOPING COUNTRIES
dc.subject	DEVELOPMENT ECONOMICS
dc.subject	DISABILITY
dc.subject	DISBURSEMENTS
dc.subject	DIVERSIFICATION
dc.subject	DROUGHT
dc.subject	DROUGHT INSURANCE
dc.subject	DROUGHTS
dc.subject	ECONOMIC DEVELOPMENT
dc.subject	EMERGING MARKETS
dc.subject	EXPENDITURE
dc.subject	EXTREME TAIL
dc.subject	EXTREME WEATHER
dc.subject	EXTREME WEATHER EVENTS
dc.subject	FAMILY MEMBER
dc.subject	FAMILY MEMBERS
dc.subject	FAMILY PLANNING
dc.subject	FEDERAL RESERVE
dc.subject	FEDERAL RESERVE BANK
dc.subject	FINANCIAL ASSISTANCE
dc.subject	FINANCIAL CONSTRAINTS
dc.subject	FINANCIAL INNOVATION
dc.subject	FINANCIAL INSTITUTION
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL LITERACY
dc.subject	FINANCIAL MARKET
dc.subject	FINANCIAL MARKETS
dc.subject	FINANCIAL PRODUCTS
dc.subject	FINANCIAL SERVICES
dc.subject	FINANCIAL SYSTEMS
dc.subject	FLOOD INSURANCE
dc.subject	GENERAL INSURANCE
dc.subject	GOVERNMENT ASSISTANCE
dc.subject	GOVERNMENT CROP INSURANCE
dc.subject	GOVERNMENT INSURANCE
dc.subject	GOVERNMENT SUBSIDIES
dc.subject	HOUSEHOLD CONSUMPTION
dc.subject	HOUSEHOLD INCOME
dc.subject	HOUSEHOLD INCOMES
dc.subject	HURRICANES
dc.subject	INCOME
dc.subject	INCOME SHOCKS
dc.subject	INCOME SMOOTHING
dc.subject	INCOME VARIABILITY
dc.subject	INDEMNITY
dc.subject	INFORMAL INSURANCE
dc.subject	INSURANCE
dc.subject	INSURANCE AGENTS
dc.subject	INSURANCE ARRANGEMENTS
dc.subject	INSURANCE COMPANIES
dc.subject	INSURANCE COMPANY
dc.subject	INSURANCE CONTRACT
dc.subject	INSURANCE CONTRACTS
dc.subject	INSURANCE COVERAGE
dc.subject	INSURANCE CULTURE
dc.subject	INSURANCE MARKET
dc.subject	INSURANCE MARKETS
dc.subject	INSURANCE PAYOUT
dc.subject	INSURANCE POLICIES
dc.subject	INSURANCE POLICY
dc.subject	INSURANCE PREMIUMS
dc.subject	INSURANCE PRODUCT
dc.subject	INSURANCE PRODUCTS
dc.subject	INSURANCE REGULATIONS
dc.subject	INSURANCE SCHEME
dc.subject	INSURANCE SCHEMES
dc.subject	INSURANCE UNDERWRITERS
dc.subject	INSURERS
dc.subject	INTEREST RATE
dc.subject	INTEREST RATES
dc.subject	INTEREST WAIVERS
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL DEVELOPMENT
dc.subject	INTERNATIONAL MARKETS
dc.subject	INVESTMENT CHOICE
dc.subject	LABOR MARKETS
dc.subject	LABOR SUPPLY
dc.subject	LANDOWNERS
dc.subject	LIQUID ASSETS
dc.subject	LIQUIDATION
dc.subject	LIQUIDITY
dc.subject	LIQUIDITY CONSTRAINTS
dc.subject	LIVESTOCK INSURANCE
dc.subject	LIVING STANDARDS
dc.subject	LOAN
dc.subject	LOAN DEMAND
dc.subject	LOCAL AREA BANK
dc.subject	LOCAL FINANCIAL INSTITUTIONS
dc.subject	LOST INCOME
dc.subject	LOW-INCOME
dc.subject	LOW-INCOME INDIVIDUALS
dc.subject	LOWER PRICES
dc.subject	MACROECONOMIC VOLATILITY
dc.subject	MARGINAL UTILITY
dc.subject	MARGINAL UTILITY OF CONSUMPTION
dc.subject	MARKET COMPETITION
dc.subject	MARKET DEMAND
dc.subject	MARKET PENETRATION
dc.subject	MARKET SHARE
dc.subject	MARKET SIZE
dc.subject	MARKET STRUCTURE
dc.subject	MARKETING
dc.subject	MATURE MARKET
dc.subject	MICRO INSURANCE
dc.subject	MICROCREDIT
dc.subject	MICROFINANCE
dc.subject	MICROFINANCE INSTITUTION
dc.subject	MICROFINANCE INSTITUTIONS
dc.subject	MICROINSURANCE
dc.subject	MONEYLENDERS
dc.subject	MORAL HAZARD
dc.subject	NATIONAL INSURANCE
dc.subject	NATURAL DISASTERS
dc.subject	OTHER ASSETS
dc.subject	POLICYHOLDERS
dc.subject	PORTFOLIO
dc.subject	PRICE OF COAL
dc.subject	PROBABILITY
dc.subject	PRODUCTIVITY
dc.subject	PROGRAMS
dc.subject	PURCHASES
dc.subject	RATE OF RETURN
dc.subject	RATES OF RETURN
dc.subject	REINSURANCE
dc.subject	REMITTANCE
dc.subject	REMITTANCES
dc.subject	RESOURCE ALLOCATION
dc.subject	RETURNS
dc.subject	RISK AVERSION
dc.subject	RISK INSURANCE
dc.subject	RISK MANAGEMENT
dc.subject	RISK MITIGATION
dc.subject	RISK OF DEFAULT
dc.subject	RISK REDUCTION
dc.subject	RISK SHARING
dc.subject	RISK TAKING
dc.subject	RISKS OF CLIMATE CHANGE
dc.subject	SALE
dc.subject	SALES
dc.subject	SAVINGS
dc.subject	SETTLEMENT
dc.subject	SOCIOECONOMIC STATUS
dc.subject	STOCK MARKET
dc.subject	SUSTAINABILITY
dc.subject	TRANSACTION
dc.subject	TRANSACTION COSTS
dc.subject	TRANSITORY INCOME
dc.subject	UNDERINSURED
dc.subject	UNDERWRITERS
dc.subject	VALUABLE
dc.subject	VALUATION
dc.subject	WEATHER INSURANCE
dc.subject	WELFARE PROGRAMS
dc.subject	WORST-CASE
dc.subject	WORTH
dc.title	Microinsurance : A Case Study of the Indian Rainfall Index Insurance Market
dc.type	Publications & Research :: Policy Research Working Paper
dc.coverage	South Asia
dc.coverage	South Asia
dc.coverage	South Asia
dc.coverage	Asia
dc.coverage	India