V.A. (Victor) Ogurtsov: "Catastrophic Risks and Insurance in Farm-level Decision Making"

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22 Feb 2008 16:00
Unit: Wageningen University
Location: Aula, building 362, Gen. Foulkesweg 1, Wageningen
Organisation: Wageningen University
Promotor: prof.dr.ir. R.B.M. Huirne ()
Co Promotor: Dr.ir. M.A.P.M. van Asseldonk

 Experiencing catastrophic risks can cause severe cash flow problems or even result in bankruptcy. To cope with catastrophes farmers need to apply risk management strategies. Insurance is a frequently used instrument to cover catastrophic risk, however not all farmers buy insurance. Therefore the impact of factors influencing purchase of catastrophe insurance needs to be evaluated. These factors are farmer personal and farm characteristics. The main farmer personal characteristics affecting catastrophe insurance decisions are the farmer’s personal risk perception and risk attitude.

The research objectives are:
  • To describe methods that analyse risk perception and risk attitude to model decisions to cope with catastrophes;
  • To analyse actual purchase of all-risk insurance and specific types of insurance;
  • To analyse relationship between purchase of catastrophe insurance and risk perception and risk attitude;
  • Modelling the economic impact of catastrophes;
  • Modelling purchases of catastrophe insurance in a partial and whole-farm context.
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