Exploration On The Design Of Wheat Frost Damage Index Insurance Products

Weather index insurance is different from traditional "field" agricultural insurance(income insurance and price insurance).Weather index insurance uses the trigger value composed of one or more weather factors as the execution condition for claims,making compensation.This enables agricultural insurance to play its basic function and help farmers resist extreme weather disasters.At the same time,weather index insurance is more scientific in data acquisition and relatively reasonable and standardized in pricing,which can avoid the subjective impact of traditional insurance in the survey and loss assessment,and avoid moral hazard and adverse selection.Therefore,as an auxiliary type of traditional agricultural insurance,weather index insurance plays its unique and irreplaceable role in the agricultural insurance system.However,during the operation of agricultural meteorological index insurance,there is inevitably a phenomenon of claim failure caused by basis risk.Therefore,based on the study of wheat freezing damage,this article designs and studies wheat freezing damage index insurance products,aiming to avoid the claim risk brought to insurance companies by agricultural meteorological index insurance due to the existence of basis risk through reasonable design of meteorological index insurance.The specific content and results are as follows:(1)This article uses the DEA(CCR-BCC)model to evaluate the wheat production efficiency of Jinan,Weifang,Jining,Heze,Tai’an,Zibo,and Dezhou in Shandong Province from 1999 to 2020,and corrects the optimal wheat yield per unit area in Weifang based on output relaxation variables.Based on this,through Pearson correlation analysis,the HP filtered GM(1,1)model is selected as the wheat yield trend model,Separate the optimal trend yield and meteorological yield of wheat in Weifang city.(2)The historical average temperature,extreme low temperature and low temperature mean value data in each growing period prone to freezing injury of wheat in Weifang City were analyzed for contingency and inevitability,and the low temperature mean value was determined to design the freezing injury index,and the low temperature mean value was tested by probability fitting A-D value to determine the probability distribution model of historical low temperature mean value in each growing period prone to freezing injury of wheat,and the wheat freezing injury index was calculated according to the probability distribution.(3)Conduct correlation analysis on the freezing injury index and meteorological yield reduction.After verifying the positive impact of low temperature on wheat yield reduction and fully analyzing wheat freezing injury data,set climate triggering conditions for insurance claims.Based on the triggering conditions,probability fitting models for wheat production periods prone to freezing injury,as well as China’s agricultural statistical indicators and crop hazard standards,The classic combustion pricing method is used to determine the premium rate of insurance.(4)In the design of insurance products,the insurance amount for wheat materialized cost insurance is450 × 60% yuan/mu is the insurance amount,and the farmers’ self paid premium is 2.18yuan/mu.(5)Abandoning the principle that meteorological index insurance only relied on climate conditions as the basis for claims,and using the actual disaster loss rate and meteorological conditions as dual triggering conditions,it reduced the basis risk brought to insurance companies due to basis risk.