Abstract

Author:
Sharwari Bhattarai

Doi: 10.26480/seps.02.2024.78.81

This is an open access article distributed under the Creative Commons Attribution License CC BY 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

This article is prepared through the comprehensive review of different journal articles, government policy documents, directives and recent research in the field of agriculture insurance. Nepal is at the risk of climatic hazards and being an agricultural country adopting agriculture insurance comes with lot of benefit to the farmers. The government is providing 80% subsidy in the insurance premium to link farmers with the insurance activities. Although insurance in agriculture was formally started in 2013 but the adoption of crop insurance is still low as compared to livestock insurance. Complex procedure and field monitoring for the valuation of insured amount in damaged crop is the reason for its low adoption. Nepal Insurance Authority is actively involved in increasing the number of farmers in agriculture insurance and it has allocated several ,nonlife insurance companies to open their branch in all the district of Nepal. This has increased the interest of farmers in agriculture insurance. Agriculture insurance contributes to the economic development of the country by increasing food security and retaining the charm of agribusiness.