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Background Paper on the Situation of Agricultural Insurance in Kenya with Reference to International Best Practices

Topic :

In the document it is mentioned that the agricultural sector presents two opportunities for Microinsurers:

a)    An opportunity to develop Microinsurance products to cover agricultural risk.

b)    Use of agricultural value chains to distribute not only agricultural insurance but also other relevant life, health asset products.

The policy paper is aimed at improving the regulatory framework for (micro-) insurance providers only. Agricultural insurance is a very complex issue which touches not only upon regulatory issues of insurance providers, but rather requires a coordinated effort by all relevant actors in the agricultural and insurance sectors. The policy paper, therefore, provides a useful regulatory framework for micro-insurance in general, but a more dedicated policy for agricultural insurance is needed additionally.

This background paper provides an overview of the areas which require further analysis during the development of the Situational Analysis and the National Agricultural Insurance Policy.

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