Details zur Publikation

Referenztyp Zeitschriften
DOI / URL Link
Creative Commons Lizenz creative commons licence
Titel (primär) Climate insurance for agriculture in Europe: On the merits of smart contracts and distributed ledger technologies
Autor Schwarze, R.; Sushchenko, O.
Journal / Serie Journal of Risk and Financial Management
Erscheinungsjahr 2022
Department OEKON
Band/Volume 15
Heft 5
Seite von art. 211
Sprache englisch
Topic T5 Future Landscapes
Keywords distributed ledger technology; index-based insurance; climate insurance; smart contracts; e-agriculture; CAP post-2020 reform
Abstract Climate insurance has become a crucial issue due to the increasing number of climate-related catastrophic events and the associated losses for the economy in general and insurance companies in particular. The extremely hot and dry summers of 2018 and 2019 in some European countries highlighted existing weaknesses in European agricultural insurance mechanisms, with farmers having to wait for months before compensation payments could be made. Our paper compares features of yield-based insurance and index-based insurance (IBI) in agriculture in the light of new developments and trends in information technology (IT). The results show that applying Distributed Ledger Technologies (DLT) in combination with IBI could not only resolve existing problems but also facilitate the development of innovative risk management tools under the EU’s Common Agricultural Policy (CAP) post-2020 reform.
dauerhafte UFZ-Verlinkung https://www.ufz.de/index.php?en=20939&ufzPublicationIdentifier=26068
Schwarze, R., Sushchenko, O. (2022):
Climate insurance for agriculture in Europe: On the merits of smart contracts and distributed ledger technologies
J. Risk Financ. Manag. 15 (5), art. 211