The working group on risk management in
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| 1.1. Terms of Reference The Terms of Reference of the Group areas under (i) To examine the nature and types of risks in agriculture – traditional and modern ways of managing risks. (ii) To review efficacy and adequacy of existing risk management instruments (such as MSP, MIS, Futures market, Contract farming, NAIS, etc) and to suggest appropriate and farmer friendly schemes for effective management of agricultural prices and production risks. (iii) To examine the potential for agri-insurance offerings and issues associated with demand and returns for related products. Examine trends and behavior and identify sectors that influence and stimulate demand for agribusiness assurance. (iv) To examine relevant and proven international experiences to benefit from the best practices available globally. (v) To chart out a strategy/direction to reflect the diversified needs of the farming community and government policies, in the light of the emerging agri-insurance sector. (vi) To identify appropriate, profitable and sustainable target segments, for agribusiness insurance product offerings and suggest a portfolio of products, which the insurance companies, should offer to identified customer segments. (vii) To suggest a suitable pricing approach and policy, appropriate distribution mechanism, suitable channel policies and effective promotional plan, for recommended product offerings. viii) To suggest the basis for limiting/fixing, of the sum insured and the nature of coverage and indemnity levels. (ix) To explore financial support to Crop Insurance and define the possibilities for re- insurance. (x) To workout Management/Administrative arrangements for effective implementation of Crop Insurance Public Private Participation – Other infrastructure. (xi) To suggest the structure of a business database and Management Information System (MIS), to continuously monitor and analyze factors, such as current customer needs, preferences, practices and the nature of competition. (xii) To review the present status of the National Agricultural Insurance Scheme (Modified Comprehensive Crop Insurance Scheme) and suggest measure for making the scheme more cost effective and beneficial to the farming community. (xiii) To review the suitability of various types of crop insurances – individual versus area based, single risk versus multi-risk insurance – rainfall versus all weather insurance and suggest a cost effective and beneficial Crop Insurance Scheme. Download 0.68 Mb. Share with your friends:
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