Document Type
Book Chapter
Publication Date
2012
DOI
https://doi.org/10.1093/oxfordhb/9780199734580.013.0006
Abstract
Efforts have been made in India and other countries in recent years to develop formal insurance markets to improve diversification of weather-related income shocks. This article aims to survey the features of one of these markets, the Indian rainfall index insurance market. “Index insurance” refers to a contract whose payouts are linked to a publicly observable index; in this case, the index is cumulative rainfall recorded on a local rain gauge during different phases of the monsoon season. This form of insurance is now available at a retail level in many parts of India, although these markets are still in their relative infancy in terms of product design and distribution.
Disciplines
International Economics | Law | Law and Economics
Recommended Citation
Xavier Giné, Lev Menand, Robert W. Townsend & James Vickery,
Microinsurance: A Case Study of the Indian Rainfall Index Insurance Market,
The Oxford Handbook of the Indian Economy, Chetan Ghate (Ed.), Oxford University Press
(2012).
Available at:
https://scholarship.law.columbia.edu/faculty_scholarship/4335