Agricultural Risk and the Crop Insurance Market in China

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A recent major expansion in the premium volume of the Chinese crop insurance program coupled with renewed international attention with respect to the role of China as a major producer and importer of agricultural commodities has prompted an interest in probabilistic models to analyze the risk associated with crop insurance portfolios in the country. This article is intended to shed light on the exposure, the nature of the risk and current risk management practices within China’s crop insurance market.