Estimating farmers’ willingness to pay for weather index-based crop insurance uptake in West Africa: Insight from a pilot initiative in Southwestern Burkina Faso

• DOI: 10.1186/s40100-018-0104-6
• Publication Date: 2018-05-22T12:28:04Z
• Authors: William M. Fonta; Safietou Sanfo; Abbi M. Kedir; Djiby R. Thiam
• Keywords: Crop insurance

Weather index-based crop insurance is increasingly becoming important as a risk mitigation strategy that farmers may use to mitigate adverse climate shocks and natural disasters encountered during farming. While Europe, North America, Asia account for 20.1%, 55%, 19.5% of the total agricultural premium worldwide, respectively, Africa accounts only 0.5% world industry. One key reasons advanced against low index participation rate in failure involve farm households at initial conceptualization design pilot initiatives. Therefore, main purpose this paper an improved participatory methodology could help elicit information on value placed by Southwestern Burkina Faso new weather management initiative. A concept willingness pay (WTP) scheme. Knowledge maximum amount are willing scheme can policy providers public makers put place measures sustain schemes developing country context improve welfare among participating farmers.