The agricultural sector depends highly on nature, making it constantly exposed to exacerbating climate and disaster risks. To mitigate the problem, agriculture insurance and index insurance are regarded as valuable risk-management instruments because they allow farmers to continue to have access to finance and to build resilience against future risks. Having agriculture insurance is especially relevant in regions like Sub-Saharan Africa and Asia where 450 million smallholder farmers feed up to 80 percent of the developing world, according to the World Food Program . While insurance companies...