Design Of The Drought Index Insurance Product Of Winter Wheat In Henan Province

Henan province is one of the important grain production bases in China,which belongs to the core area of Chinese winter wheat cultivation,and is the largest province in winter wheat production in China,the total output of winter wheat accounts for a quarter of the national total output.However,Henan province is located in a transition zone from a subtropical humid zone to a warm temperate and semi-humid zone,the climate has an obvious transitional and monsoon-type characteristics,resulting in Henan being a province with frequent meteorological disasters.The uneven spatial and temporal distribution of precipitation is prone to drought,which has a greater impact on winter wheat production.In order to ensure the orderly development of agricultural production in Henan province and protect the vital interests of farmers,Henan province vigorously supports agricultural insurance that provides protection for “three rural issues”.Judging from the current development situation of agricultural insurance in Henan,the disadvantages of traditional agricultural insurance have gradually been revealed.Problems such as moral hazard,adverse selection and excessive transaction costs have seriously restricted the development of winter wheat production in Henan province.In order to effectively prevent winter wheat production risks in Henan province,this article cites index-based weather insurance,a new agricultural risk management tool.Index-based weather insurance can index the impact of climate on crop yields and form a weather loss index.Each index corresponds to crop output and loss,which can effectively solve the plight of traditional wheat insurance.Before designing the drought index insurance of winter wheat in Henan province,the author studied and compared the development status of both domestic and foreign agricultural index-based weather insurance,and conducted the theoretical basis and practical conditions of the drought index insurance of winter wheat.The theoretical basis refers to the theory of economic externalities,the theory of agricultural inferiority and the guarantee mechanism of insurance to analyze the necessity of the drought index insurance of winter wheat in Henan,The practical condition is to analyze the feasibility of developing the drought index insurance product of winter wheat in Henan by demonstrating the political,economic,social and technological aspects.Before the product design,this paper systematically demonstrates the current winter wheat planting status and meteorological disasters in Henan,identifies the main meteorological disasters faced by winter wheat in Henan,and confirms that precipitation is the most restrictive factor affecting the growth of winter wheat in Henan,so it is selected the precipitation anomaly percentage used as the drought index of winter wheat in Henan province.When determining the variation trend of winter wheat yield,it is necessary to separate actual yield and trend yield.In this paper,the 5a moving-average method is used to fit the trend yield of winter wheat in Henan,and the winter wheat yield reduction due to changes in meteorological conditions is calculated,and combined with the actual situation of drought disasters in Henan and relevant data to determine the relationship between drought index and winter wheat yield reduction.In the process of rate calculation,this paper uses two methods,empirical rate method and optimal yield distribution model,to determine the pure rate of the drought index of winter wheat,and to select the best fitting result.Finally,after determining the basic elements such as insurance liability,trigger value and compensation standards for the drought index insurance of winter wheat in Henan province,the design of the drought index insurance product of winter wheat in Henan was completed.This paper hopes to design a practical agricultural insurance product that supplements traditional agricultural insurance products,effectively promotes the sustainable development of winter wheat in Henan,and improves the ability of Henan province to guarantee agricultural risks.This article is divided into seven parts,the first part introduces the research background,research significance,domestic and foreign research review,research methods and other contents of this article.The second part discusses the current situation of winter wheat planting and drought disaster risk in Henan,and determines the amount of precipitation as a weather index for the index-based weather insurance of Henan winter wheat.The third part demonstrates the necessity and feasibility of developing the drought index insurance product of winter wheat in Henan from the theoretical basis and practical conditions.The fourth part summarizes the development status of weather index insurance products at home and abroad,and sums up the experience from it,to lay a good foundation for the design of the drought index insurance product of winter wheat in Henan.The fifth part is to design the drought index insurance of winter wheat in Henan,which is divided into constructing the drought index,determining the trend output,calculating the insurance rate,and determining the basic elements of the product,and completing the product design of the drought index insurance of winter wheat in Henan.The sixth part puts forward the expected problems that may arise during product promotion according to the current status of the development of weather index insurance in Henan province,which lays the foundation for Henan province to carry out the pilot test of winter wheat drought index insurance.The seventh part is the research conclusion and research prospect,summarizes the research results of this article,and points out the existing problems and research prospect.