Performance of Weather Index Based Insurance for Cotton in Karnataka
Keywords:
Perception, risk, Crop insurance, Weather index based insuranceAbstract
In the Developing countries like India the crop failure due to reasons of excess of rainfall and lack of rain fall is a common phenomenon. To compensate with the crop failure the Crop insurance is an immediate resort available to the farming community across the country. The WIBI-Weather Index Based Insurance scheme in Karnataka is the instrument available to farmers and more particularly for the cotton growing farmers. However the common notion is that farmers are not satisfied by crop insurance facility. The present study attempts to understand the performance of WIBI and examines the satisfactory levels of the cotton growing farming in this regard. The detailed analysis of both positive and negative perception of farmers towards weather based insurance is given. The paper highlights that the WIBI performance is marginally satisfactory and covers more of low rain fall risk than the high rainfall risk.
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