East Asia and Pacific

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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.
Papua New Guinea (PNG) is a lower middle income country located in the Asian-Pacific region. Agriculture is the predominant source of livelihood in the country, with the agricultural sector accounting for 67% of the total labor force and 35% of the GDP in 2010. PNG has a very high exposure to earthquake, tsunami and volcanoes as well as being affected by climatic perils including tropical cyclones and the influence of the El Nino Southern Oscillation (ENSO) cycle which brings with it extremes of drought and excess rain and flooding.