농작물재해보험 제도의 개선방안에 관한 연구

A STUDY ON THE REFORM OF CROP INSURANCE

The Korean Crop Insurance, despite its good contribution to the security of Korean farm businesses since its introduction in 2001, faces the real difficulty of financial sustainability out of huge typhoon losses during the past couple of years in Korea without a good backup of reinsurance. This study pointed out several problems of the current system such as poor reinsurance performance, no government reinsurance, moral hazard and adverse selection in crop insurance. It also suggests many reform actions including government reinsurance, proper rate increase, introduction of experience rating and liability cap, and expansion of covered agricultural products.