RISK MODELS AND NEW MECHANISMS IN AGRICULTURAL INSURANCE

Abstract

Agricultural insurance is essential for protecting farmers against financial losses due to natural disasters, climate change, pests, and market fluctuations. In Uzbekistan, agriculture forms a significant part of the national economy, making the development of effective insurance mechanisms critical. This study explores risk models and new mechanisms in agricultural insurance, evaluates current challenges, and examines international best practices. Using statistical analysis, case studies, and comparative research, the study identifies weather-indexed insurance, parametric policies, and crop diversification-based risk models as key innovations. Findings reveal that integrating advanced risk assessment models, digital platforms, and public-private partnerships can enhance coverage, reduce claim settlement delays, and improve financial stability for farmers. Recommendations focus on implementing modern risk models, encouraging technological adoption, improving awareness among farmers, and aligning domestic practices with global standards to foster a resilient agricultural insurance system in Uzbekistan.