Risk Analysis and Premium Assessment in Albanian Agricultural Insurance
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PDF downloads: 1
DOI:
https://doi.org/10.5281/zenodo.14897887Keywords:
Agriculture, İnsurance, Management, Production, Premiums, RiskAbstract
Agriculture plays a vital role in the economy of Albania, accounting for a significant portion of
the country's GDP and employment. However, the sector faces various risks, including natural disasters,
climate change impacts, and market volatility. These risks threaten agricultural production and farmers'
livelihoods, underscoring the need for effective risk management tools. To mitigate these risks, agricultural
insurance has been identified as a crucial risk management strategy. The agricultural insurance market in
Albania remains underdeveloped, with low uptake among farmers. This research investigates the challenges
and opportunities within the Albanian agricultural insurance landscape. It examines the key risks
confronting farmers, analyzes factors hindering market growth (including limited awareness, perceived
high premiums, and inadequate product design), and explores strategies to enhance the accessibility and
affordability of insurance products. By examining the interplay of risk assessment, premium calculation,
and farmer affordability, the study aims to contribute to a more robust and inclusive agricultural insurance
system in Albania.
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