A NEW RISK MANAGEMENT MODEL IN AGRICULTURAL CROPS INSURANCE
Author: Galina Stoyanova (Burgas Free University)
Keywords: crop insurance, farms, insurance, state, risk management, insurance market, agriculture
Insurance is a prevention, with the application of which agricultural producers can significantly reduce their damages and losses due to the occurrence of adverse risk events in the farm they manage. Agriculture is the sector that is most dependent on weather and climate conditions and deserves professional insurance support, expecting adequate insurance coverage to accompany the development of the crop harvest. The interest in the usefulness of crop insurance increases many times over with the unity in the work of the three stakeholders - insurers, farmers and experts from the Ministry of Agriculture and Food. The promotion of agricultural production insurance through the intervention "Risk management tools - financial contribution to premiums under insurance schemes" included in the Strategic Plan for the Development of Agriculture and Rural Areas of the Republic of Bulgaria for the period 2023 - 2027, is a favorable and significant factor for creating a tradition of insuring agricultural crops and farms in our country.
