Design of the Insurance Contract Based on the Weather Indices of Chilling Injury in Litchi and Demonstration Application
Chunyi Wang, Jinghong Zhang, Yajie Zhang, Haijing Huang, Xiufen Che
Available Online November 2016.
- https://doi.org/10.2991/rac-16.2016.92How to use a DOI?
- chilling injury of litchi, insurance contract based on the weather indices, demonstration application
- Chilling injuries severely affect and restrict the litchi production in Hainan. Accordingly, the studies on the design of insurance contracts based on the weather indices and will be of great significance for transferring disaster risks, reducing the losses of planters. Using the data of litchi yield from 1990 to 2010 as well as the meteorological data from 1961 to 2010 in Hainan, the yield risk distribution model was developed using the extreme value theory. Subsequently, the pure premium rates in all counties or cities were determined. Finally, the insurance products and contracts with different deductibles were designed. With the chilling damage of litchi encountered in Hainan Province in 2014, the paper applied the insurance contract in Haikou and Chengmai, the result of error testing indicate that simulation of the chilling injury index to litchi yield reduction rate was accurate, and the determination of the premium rate was scientific and reasonable. The insurance contracts based on the weather indices with different deductibles are designed according to the requirements of the insurers at different regions with different risks. They can provide technical supports for the establishment and improvement of agricultural insurance schemes for litchi in Hainan.
- Open Access
- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - Chunyi Wang AU - Jinghong Zhang AU - Yajie Zhang AU - Haijing Huang AU - Xiufen Che PY - 2016/11 DA - 2016/11 TI - Design of the Insurance Contract Based on the Weather Indices of Chilling Injury in Litchi and Demonstration Application BT - 7th Annual Meeting of Risk Analysis Council of China Association for Disaster Prevention (RAC-2016) PB - Atlantis Press SP - 569 EP - 574 SN - 1951-6851 UR - https://doi.org/10.2991/rac-16.2016.92 DO - https://doi.org/10.2991/rac-16.2016.92 ID - Wang2016/11 ER -