Renewal of Crop Index-Based Insurance Uptake: Evidence from Senegal ()
ABSTRACT
In this
work, we estimate the determinants of the renewal of weather index-based
insurance contracts by Senegalese farmers who practiced rain-fed
agriculture in the Senegalese groundnut during the years 2014, 2015 and 2016.
Based on data on 3698 producers to whom weather index-based insurance bundled with an agricultural
loan was proposed, we conducted a survival analysis using an Andersen-Gill cox
regression to identify the drivers of the contract renewal. Our results show
that difference in gender and amount of premiums paid do not explain contracts’
renewal. However, cooperatives to whom farmers are affiliated, possibility to
delay premium payment until the reimbursement of loans and whether payouts were
triggered or not, were the core determinants of renewal after the first year of
purchase.
Share and Cite:
Syll, M. (2021) Renewal of Crop Index-Based Insurance Uptake: Evidence from Senegal.
Open Journal of Social Sciences,
9, 1-8. doi:
10.4236/jss.2021.911001.
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