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Index-based insurance, also known as index-linked insurance, weather-index insurance or, simply, index insurance, is primarily used in agriculture. Because of the high cost of assessing losses, traditional insurance based on paying indemnities for actual losses incurred is usually not viable, particularly for smallholders in developing countries .
Livestock can serve as insurance against risk [45] and is an economic buffer (of income and food supply) in some regions and some economies (e.g., during some African droughts). However, its use as a buffer may sometimes be limited where alternatives are present, [ 46 ] which may reflect strategic maintenance of insurance in addition to a ...
Most modern liability insurance is written on the basis of "pay on behalf" language, which enables the insurance carrier to manage and control the claim. Under an "indemnification" policy, the insurance carrier can generally either "reimburse" or "pay on behalf of", whichever is more beneficial to it and the insured in the claim handling process.
Livestock Insurance Scheme in India provided "provide protection mechanism to the farmers and cattle rearers against any eventual loss of their animals due to death and to demonstrate the benefit of the insurance of livestock to the people and popularize it with the ultimate goal of attaining qualitative improvement in livestock and their products."
Parametric insurance (also called index-based insurance) is a non-traditional insurance product that offers pre-specified payouts based upon a trigger event. [1] Trigger events depend on the nature of the parametric policy and can include environmental triggers such as wind speed and rainfall measurements, business-related triggers such as foot traffic, [2] and more.
Crop insurance is insurance purchased by agricultural producers and subsidized by a country's government to protect against either the loss of their crops due to natural disasters, such as hail, drought, and floods ("crop-yield insurance"), or the loss of revenue due to declines in the prices of agricultural commodities ("crop-revenue insurance").
Today, Dan Amos—who owns 0.5% of the company’s shares and 1.3% of voting shares—has turned his family business into a powerhouse, with more than 12,700 full-time employees globally.
An open livestock carrier with a cargo of sheep from Australia, docked in Oman. A livestock carrier is a seagoing vessel for the transportation of live animals. Typically it is large ship used in the live export of sheep, cattle and goats. Livestock carriers may be specially built new or converted from container ships.