Research On The Design Of Weather Index Insurance Products For Continuous Rain And Rain Of Peanut In Henan Province

The planting area and yield of peanut in Henan Province rank first in China all the year round,and the annual total yield of peanut accounts for one third of the country.As the largest economic crop in Henan Province,peanut planting has become the "road to prosperity" for farmers.Under the background of "Rural Revitalization",how to ensure the long-term stable and high yield of peanut planting has become the top priority of the prosperity and development of agricultural economy in Henan Province.Although there are suitable soil for peanut growth in Henan Province,because Henan Province is located in the transition zone of monsoon climate zone,it is a natural disaster prone area,and various meteorological disasters occur frequently.In 2019,Henan province suffered 41 natural disasters,such as drought,flood,hail and so on,which seriously affected the peanut planting,resulting in different degrees of peanut yield reduction in various regions.The growth cycle of peanut in Henan Province is from May to September,which is the main rainfall season in Henan Province.Peanut is a relatively drought resistant economic crop.It needs less water in the fruit ripening period after September.If it suffers from continuous rain disaster,it is easy to cause the root pod germination and deterioration,resulting in peanut yield reduction.Southern Henan is the main producing area of peanut in Henan Province.The total planting area and yield of peanut in Zhu ma dian City and Nanyang City have reached more than 50% of the whole province,but these two cities are also the areas suffering the most serious continuous rain disaster.In the process of peanut planting,the introduction of insurance mechanism can effectively transfer the risk of meteorological disasters,so as to reduce the loss of farmers caused by meteorological disasters.As an innovative agricultural insurance,weather index insurance has significant advantages,such as high efficiency of claim settlement,low transaction cost,and effective reduction of adverse selection and moral hazard.In this paper,by learning from the pilot situation of meteorological index insurance at home and abroad,summed up the process specification of meteorological index insurance product design,and designed the peanut continuous rain meteorological index insurance product in Henan Province.Firstly,this paper combs the literature of weather index insurance at home and abroad,and sorts out the advantages and disadvantages of weather index insurance,product design ideas and pricing methods.Then,from the aspects of the prominent status of peanut industry in Henan Province,the great harm of continuous rain to peanuts and the limitations of traditional peanut insurance,the necessity of continuous rain weather index insurance for peanuts in Henan Province is analyzed theoretically;This paper theoretically analyzes the feasibility of carrying out the weather index insurance of continuous rain of peanut in Henan Province from the aspects of policy support,good agricultural insurance market,abundant peanut production data and meteorological data.Next,by summarizing the successful experience of continuous rain weather index insurance at home and abroad,combined with the implementation and policy requirements of agricultural insurance in Henan Province,we consider the design of peanut continuous rain weather index insurance products in Henan Province.In this paper,the design process of the peanut weather index insurance product in Henan Province is as follows: firstly,the continuous rain disaster index is selected to construct the continuous rain weather index of peanut in Henan Province;Secondly,the three-year moving average method was used to fit the trend yield,and the change trend of actual yield and trend yield was calculated,and then the yield reduction rate caused by continuous rain disaster was determined;Thirdly,according to the relevant data,the regression model between peanut yield reduction rate and continuous rain disaster index was established to determine the continuous rain meteorological index under different yield reduction rates.In the process of determining the premium rate,this paper uses the main methods of actuarial premium rate determination,namely empirical premium rate method and distribution fitting method,to determine the net premium rate of the main peanut producing cities in Henan Province.Because these two methods have their own advantages and disadvantages,in order to make the result of premium rate more realistic and reduce the basis risk,this paper refers to the treatment methods of other scholars,By revising the two results,the revised net premium rate is obtained,and the net premium can be further determined by the insurance amount of peanut in Henan Province.Finally,according to the process of insurance product design,the insurance terms are formulated,and the insurance liability,insurance period,compensation standard of the insurance product are determined,so as to complete the design of the peanut continuous rain weather index insurance product in Henan Province.Finally,the paper puts forward the possible problems and relevant suggestions in the promotion process of this insurance product,so as to lay a foundation for the further development of peanut weather index insurance pilot in Henan Province.Based on this,this paper designs a meteorological index insurance product for peanut planting in Henan Province to make up for the shortcomings of traditional agricultural insurance.It is hoped that reduce the meteorological disasters to peanut growers,help people reduce loses,promote the long-term and stable development of peanut planting.People try to the advantages of meteorological index insurance,and implementing of rural revitalization strategy.