Study Results from Georg-August-University in the Area of Risk Management Reported (“harvestassure”Under the Umbrella of Subsidies – Attitudes and Challenges of Saxonian Farmers Towards Subsidized Multiperil Insurance): Risk Management

2024 APR 18 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Current study results on Risk Management have been published. According to news reporting from Gottingen, Germany, by NewsRx journalists, research stated, “The 2022’s study explores the attitudes of farmers in Saxony towards government-subsidized multiperil insurances as an agricultural risk management tool, particularly in light of increasing multifaceted weather risks such as hail, drought, and heavy rain. Despite the momentous influence of these weather events on agricultural income and a general dissatisfaction with existing risk management strategies and instruments, there is a reserved attitude towards subsidized multi-peril insurance among the 228 surveyed farmers.”

The news correspondents obtained a quote from the research from Georg-August-University, “Acceptance of such a measure seems to be strongly dependent on the origin of financial means. There’s also surprising limited use of existing market instruments, indicating information deficits, lack of understanding or high costs of these tools. The findings suggest that, rather than direct financial subsidies for insurance premiums, shifting resources towards educational and advisory initiatives for farmers-to enhance the usage and understanding of existing risk management instruments-might be considered strategically more prudent. This would support sustainable development and help to establish a broader basis for resilient and future-oriented agriculture.”

According to the news reporters, the research concluded: “Further research could accordingly focus on the design of education initiatives.”

This research has been peer-reviewed.

For more information on this research see: “harvestassure”Under the Umbrella of Subsidies - Attitudes and Challenges of Saxonian Farmers Towards Subsidized Multiperil Insurance. Berichte Uber Landwirtschaft, 2024;102(1). Berichte Uber Landwirtschaft can be contacted at: Bundesministerium Ernahrung Landwirtschaft, Deichmanns Aue 29, Bpmm, 53179, Germany.

Our news journalists report that additional information may be obtained by contacting Von Hendrik Wever, Georg-August-University, Dept Agrarokon & Rurale Entwicklung, Arbeitsbereich Landwirtschaftl Betriebslehre, Pl Gottinger Sieben 5, D-37075 Gottingen, Germany.

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