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RESERVE CALCULATION OF THE FIRST TO AGRICULTURAL CROP INSURANCE

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Abstract

In addressing this issue we started the idea of suggesting a new method of calculating insurance premium reserve of agricultural crops, taking into account the particular risk event covered under the policy. There Romanian insurance market agricultural policies have laid a strict stop date of validity, and termination policies stating at harvest (without specifying a strict time), but not later than the date on which the these crops are normally harvested. Personally, I think more correctly the second type of policy, since it can provide, exactly, when it will harvest a particular crop, and to restrict the validity of the policy until a certain date, required (eg 20 July for wheat crop - as provided in policies of insurance companies) means that exactly at the critical policy ceases.

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