Adoption of rice crop insurance in the Philippines: Lessons from farmer's experience

Issue Date

4-2015

Abstract

Crop insurance is one of the mitigating mechanisms that farmers can use to cope with reduced rice production and income due to typhoons, floods, landslides, droughts, and pests and diseases. However, few Filipino rice farmers insure their crops. This study assessed the rice farmer's perception and awareness level about crop insurance. Determinants of crop insurance adoption were identified using probit estimation. One out of 10 farmers had enrolled in rice crop insurance at least once from 2007 to 2011. The major reasons for enrollment are attractive remuneration policy and facilitating access to credit. The key reasons for non-enrollment are added financial burden and lack of understanding about insurance. Probit estimation revealed that the area planted to rice, farmer's sex, access to remittances and capital, and participation in seminars related to rice farming are significant and positively affect the probability of adopting insurance.

Source or Periodical Title

Philippine Journal of Crop Science

ISSN

0115-463x

Volume

40

Issue

1

Page

24-34

Document Type

Article

Frequency

tri-quarterly

Physical Description

tables, graphs

Language

English

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