@article{Malik:316618,
      recid = {316618},
      author = {Malik, Ravinder Paul Singh and Amarnath, Giriraj},
      title = {Economics of Index-based Flood Insurance (IBFI)},
      address = {2021-11-09},
      number = {617-2021-3411},
      series = {IWMI Working Paper 199},
      month = {Nov},
      year = {2021},
      abstract = {The International Water Management Institute (IWMI) has  recently developed an innovative Index-based Flood  Insurance (IBFI) product to facilitate the scaling of flood  insurance particularly in vulnerable economies, to provide  risk cover to poor farmers against crop losses that occur  due to floods. While the product developed is technically  very sound, the economics of such an intervention is  important to ensure the large-scale acceptance and adoption  of the product by different stakeholders and for its  sustenance in the long term. This paper attempts at  conducting an ex ante assessment of the economics of IBFI  from the perspectives of the three main stakeholders:  farmers, the insurance company and the government. The  paper discusses the methodological challenges and data  issues encountered in undertaking an economic analysis of  such a product. The issues and processes involved have been  empirically demonstrated using a theoretical case study  based on a synthesis of information drawn from a host of  sources and certain assumptions. Field-based data are now  being collected and analyzed from the locations where IBFI  has recently been piloted by IWMI. This will help in  further refining the process of economic evaluation and  identifying the experiences of different stakeholders.},
      url = {http://ageconsearch.umn.edu/record/316618},
      doi = {https://doi.org/10.22004/ag.econ.316618},
}