Weather index insurance for wind energy

As China vigorously promotes the development of new energy,photovoltaic power curtailment and wind power curtailment have been effectively resolved.At the same time,the yield from new energy power generation is becoming an important factor that affects the scale of investment in new energy.This paper focuses on the weather risks faced by wind power producers.By studying current research on weather index insurance in China and abroad,the functions and design methods for weather index insurance have been clarified.In addition,the feasibility of wind-power generation index insurance is discussed.The calculation methods for wind power generation index and the weather index insurance pricing methods for wind power enterprises are proposed.A weather index insurance model for wind power generation was established.The rationality and feasibility of the weather index insurance model proposed in this paper were verified using data from an existing power plant.The simulation results show that wind power enterprises can effectively avoid economic losses caused by weather risks through weather index insurance.

Financial Innovation Way of Avoiding Risk of Climate Disasters in Food Production:Weather Index Insurance

Climate change will lead to a variety of climate disasters, and climate disasters have a greater impact on China＇s food production. Weather index insurance is a new financial way to avoid risk of climate disasters effectively in China＇s food production. Firstly, the relationship between weather index insurance and food production in China was elaborated, and then the development status, advantages and disadvantages of weather index insurance in China at present were analyzed. Finally, some countermeasures against the problems of weather index insurance in China were put forward.

Feasibility Analysis of Agricultural Product Price Index Insurance Based on Pilot Cases

Agricultural product price index insurance is a kind of index insurance. It avoids defects of traditional agricultural insurance,such as moral hazards,adverse selection,and high management cost. On the basis of studying agricultural product price index insurance of all areas of China,this paper analyzed characteristics of agricultural product price index insurance from object selection,product object,premium design,and policy support,and discussed feasibility of extending agricultural product price index insurance in an all-round way.

Farmers' Risk Preferences and Agricultural Weather Index Insurance Uptake in Rural China

The purpose of this study is to investigate the effect of farmers' risk preferences on their decisions to purchase the agricultural weather index insurance based on the evidence from a household survey and field experiments conducted in Yongqiao District,Suzhou City of Anhui Province in China.Our empirical results show that farmers' risk aversion significantly increases the probability of their decision to buy weather index-based crop insurance.Other factors that significantly influence weather index insurance participation decisions include farmers' subjective beliefs on the probability of crop losses,farming experience,education level,farm size,and their household income.The empirical results of this study can provide helpful insights for policymakers and local insurers to further improve farmers' participation in weather indexbased crop insurance.

Farmers’Demand for Informal Risk Management Strategy and Weather Index Insurance:Evidence from China

In the absence of formal risk management strategies,agricultural production in China is highly vulnerable to climate change.In this study,field experiments were conducted with 344 households in Heilongjiang(Northeast China)and Jiangsu(East China)Provinces.Probit and logistic models and independent sample T-test were used to explore farmers’demand for weather index insurance,in contrast to informal risk management strategies,and the main factors that affect demand.The results show that the farmers prefer weather index insurance to informal risk management strategies,and farmers’characteristics have significant impacts on their adoption of risk management strategies.The variables non-agricultural labor ratio,farmers’risk perception,education,and agricultural insurance purchase experience significantly affect farmers’weather index insurance demand.The regression results show that the farmers’weather index insurance demand and the influencing factors in the two provinces are different.Farmers in Heilongjiang Province have a higher participation rate than those in Jiangsu Province.The government should conduct more weather index insurance pilot programs to help farmers understand the mechanism,and insurance companies should provide more types of weather index insurance to meet farmers’diversified needs.