Index Insurance Forum

Index-Based Climate Insurance Seen Feasible for Sri Lankan Farmers

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In a study, a research economist at the Institute of Policy Studies finds that index insurance could be a feasible option for Sri Lankan farmers if they had greater education and awareness that overcomes existing lack of trust, EconomyNext reports. It is not uncommon that farmers have become skeptical about insurance after they heard about other bad experiences other farmers had with indemnity insurance. The lack of trust, as the farmers are unsure whether they will get benefits when disaster strikes, hinders the development and wider implementation of index insurance.