Factors Influencing the Take-Up of Agricultural Insurance and the Entry into the Mutual Fund: A Case Study of the Czech Republic

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00027251%3A_____%2F22%3AN0000001" target="_blank" >RIV/00027251:_____/22:N0000001 - isvavai.cz</a>

Result on the web

<a href="https://www.mdpi.com/1911-8074/15/8/366" target="_blank" >https://www.mdpi.com/1911-8074/15/8/366</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.3390/jrfm15080366" target="_blank" >10.3390/jrfm15080366</a>

Result language

angličtina

Original language name

Factors Influencing the Take-Up of Agricultural Insurance and the Entry into the Mutual Fund: A Case Study of the Czech Republic

Original language description

The objective of the study was to identify the main factors influencing farmers’ willingness to take up agricultural insurance and participate in a mutual fund for non-insurable risks in the Czech Republic. Responses from 214 representative farms were processed using descriptive statistics, paired t-tests, binary logistic regression, and contingency analysis. The regression model showed the influences of agricultural area, distrust in insurance companies, the probability of losing more than 20% of production, the price of insurance premiums, and having a developed formal strategy on the likelihood of taking up agricultural insurance. Unlike previous empirical studies, this study did not attempt to look at agricultural insurance as an isolated risk management tool but rather to show the interrelationship between farmers’ decisions to join a mutual fund and their choice of agricultural insurance. Farmers expect most agricultural production risks to become significantly more important. With the ongoing economic crisis in the EU, there is growing pressure to reduce ad hoc public spending on coverage of non-insurable risks and to seek alternative solutions. The study also shows the need for a holistic approach to the design of risk management support systems in EU countries.

Czech name

—

Czech description

—

Type

J_ost - Miscellaneous article in a specialist periodical

CEP classification

—

OECD FORD branch

50201 - Economic Theory

Project

—

Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2022

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

JOURNAL OF RISK AND FINANCIAL MANAGEMENT

ISSN

1911-8066

e-ISSN

1911-8074

Volume of the periodical

15

Issue of the periodical within the volume

8

Country of publishing house

CH - SWITZERLAND

Number of pages

17

Pages from-to

nestrankovano

UT code for WoS article

000845541700001

EID of the result in the Scopus database

2-s2.0-85136781953