Stakeholders’ Analysis in Agricultural Insurance Service System: A Special Focus on Farmer’s Knowledge and Attitude

Abstract

Agricultural insurance or crop insurance is defi ned as protection against either the loss of crops due to natural disasters, such as hail, drought, and fl oods, or the loss of revenue due to declines in the prices of agricultural commodities given to agricultural producers and subsidized by the government. The research desired to fi nd out the stakeholders of agricultural insurance service system, diff erent roles and responsibilities played by them, and to measure the knowledge and attitude level of farmers towards agricultural insurance. It was found that the majority of farmers were knowledgeable (80%) and had a positive attitude (78%) toward the agricultural insurance service system. It was observed that education, income, knowledge about agricultural insurance, risk proneness and cosmopoliteness of the farmers have signifi cant and positive correlations with attitude of the farmers towards agricultural insurance whereas age and land holding of the farmers have negative and signifi cant relations with the dependent variable. The present study enables the farmers to have good communication with the extension professionals working in their villages.