Voluntary agricultural insurance in the Republic of Kazakhstan based on the example of perennial plantings

The goal is to assess the potential of voluntary agricultural insurance in Kazakhstan using the example of perennial crops, determine demand and market readiness, and identify difficulties faced by agricultural producers and insurance companies.

Methods - to solve the problems,  content analysis method was used, which is aimed at studying problems related to state support of  agro-industrial complex, data, statistical indicators were considered as information base, as well as  review of  literature on the topic, legislative acts and state policy in the field of agriculture and agricultural insurance, experience of economically developed countries were studied.

The results show the possibility of the presence of agricultural risks and uncertainties with focus  on  insurance of perennial crops, prospects and barriers that impede its development in conditions of sharply continental climate, scarcity of water resources and  unstable economy.

Conclusions - voluntary insurance protection is an effective tool for mitigating financial losses in agricultural production in Kazakhstan. The author notes the need to increase financial resources and strengthen consulting work focused on understanding the benefits of agricultural insurance by business entities; creating effective mechanisms for distributing insurance payments and developing affordable insurance products that take into account the needs of the farmers. The most flexible insurance conditions,  minimum list of documents for concluding an agreement, transparent methods for establishing the amount of insurance compensation and settling losses, increasing investment attractiveness, and using international experience taking into account the needs of Kazakhstani agricultural producers are required. The role of insurance services as one of the most common methods of reducing farmers' losses from natural and climatic changes, will increase.

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