Details zur Publikation

Kategorie Textpublikation
Referenztyp Zeitschriften
DOI 10.5595/001c.21955
Titel (primär) Distributed ledger technology for an improved index-based insurance in agriculture
Autor Sushchenko, O. ORCID logo ; Schwarze, R.
Quelle Journal of Integrated Disaster Risk Management
Erscheinungsjahr 2020
Department OEKON
Band/Volume 10
Heft 2
Seite von 66
Seite bis 85
Sprache englisch
Keywords distributed ledger technologies; index-based insurance; climate insurance; systemic risk; European Risk Transfer Mechanism; European Stabilization Mechanism
Abstract Climate insurance is already a hot topic due to the increased number of climate-related catastrophic events accompanied by associated losses for the economy in general and insurance companies, in particular. The extremely hot and dry summer of 2018 in some European countries highlighted existing weaknesses of the agricultural insurance mechanisms in Europe, where the farmers had to wait for months before compensation payments could be made. Our paper aims to compare features of the yield-based insurance2 and the index-based insurance (IBI)3 in agriculture in the light of new developments and trends in information technologies (IT). The results show that an application of the distributed ledger technologies (DLT) in combination with IBI could not only resolve existing problems, but also facilitate development of the innovative insurance mechanisms at the EU level – providing effective protection against climate-related risks and preventing a systemic risk escalation.
dauerhafte UFZ-Verlinkung
Sushchenko, O., Schwarze, R. (2020):
Distributed ledger technology for an improved index-based insurance in agriculture
IDRiM 10 (2), 66 - 85 10.5595/001c.21955