Product Design Of Weather-based Index Insurance For Banana Caused By Typhoon-Induced High Winds In Guangdong Province

Guangdong Province,located in South China,is the largest banana-producing area in the country with warm weather,sufficient,and rainfall all year round.In 2020,the banana planting area in Guangdong Province was 128000 hectares,accounting for31.53% of the total planting area in the country;The banana output is about 4.1million tons,accounting for 36% of the total national output.Guangdong Province plays an irreplaceable role in the banana industry.However,Guangdong Province is adjacent to the northwest Pacific region with frequent typhoon activities in the south.The strong wind brought by the typhoon will cause banana lodging and seriously threaten banana planting.Therefore,it is urgent to improve the level of banana typhoon risk management and guarantee and promote the healthy development of the banana planting industry in Guangdong Province.Traditional banana agricultural insurance has problems such as the high cost of claim settlement,difficulty in field survey,and poor effect of claim settlement,which cannot fully play the role of risk protection.The meteorological index insurance is based on objective meteorological data as the basis of claim settlement,with high efficiency,low cost,and scientific and transparent data,which can effectively avoid the occurrence of moral hazard,thus overcoming the disadvantages of traditional agricultural insurance,and can be used by the banana industry in Guangdong Province to manage the typhoon and gale risk.Based on the assessment of the risk of typhoons and gales,this paper studies and designs the banana typhoon and gale disaster index insurance for the banana planting industry in Guangdong Province,which can not only deepen the scientific understanding of the disaster mechanism of typhoon and gale in theory,but also enrich the meteorological index insurance and agricultural insurance products in China in practice,and provide effective risk management for the sustainable development of the banana planting industry in Guangdong Province,which has practical significanceBased on the banana production data from 1994 to 2019 and the typhoon data from 2000 to 2020,this paper first reveals the characteristics of the disaster-causing factors of the banana typhoon gale disaster by analyzing the frequency,intensity,and range distribution of the typhoon in Guangdong Province,and then obtains the characteristics of the disaster-carrying body of the typhoon gale disaster by analyzing the economic and social situation and banana planting situation in Guangdong Province,and then uses the risk matrix to conduct a comprehensive analysis on this basis,The results of risk zoning of banana typhoon gale disaster in Guangdong Province are obtained,and the necessity of implementing banana typhoon gale disaster index insurance in Guangdong is further discussed from three aspects: the degree of typhoon disaster,the disadvantages of agricultural insurance,and the advantages of meteorological index insurance.This paper analyzes the conditions and advantages of developing banana typhoon gale disaster index insurance in Guangdong Province from three aspects of actual demand,economic basis,and policy support.Finally,based on the risk characteristics of typhoon and gale disasters in Guangdong Province,the index insurance for typhoon and gale disasters in Guangdong Province is designed.The results show that:(1)Zhuhai,Zhanjiang,and Shenzhen have the highest risk of disaster factors,and typhoon and gale disasters are the most serious;Zhanjiang and Maoming have the weakest vulnerability and the highest degree of exposure.The intensity of typhoon and gale disasters on bananas is large.(2)The risk of banana typhoons and gales in Guangdong Province is gradually reduced from south to north.Zhanjiang and Maoming are located in the major risk area for typhoon and gale disasters,and the risk severity is much higher than in other regions.(3)The typhoon and gale disaster in Guangdong Province seriously threatens the growth of bananas,but there are drawbacks and deficiencies in traditional agricultural insurance.The advantages of meteorological index insurance can better meet the needs of modern agricultural development,and Guangdong Province is economically developed.Therefore,with the support of national policies,it is imperative for Guangdong Province to develop banana typhoon and gale disaster index insurance.(4)Based on the characteristics of typhoon and gale disasters in Guangdong Province,the banana typhoon and gale disaster index in Guangdong Province is designed.The relationship between the index and the yield reduction rate of bananas is significant.The mechanism of typhoon disasters is fully considered,which is more scientific,objective,and available.(5)Weibull distribution is the best model to fit the banana yield per unit area in the study area.Based on it,the probability density function of banana yield per unit area can be obtained,and the net premium and net premium of the banana typhoon disaster index in Guangdong Province can be determined.