Insurance for small corn producers in the state of Puebla
DOI:
https://doi.org/10.29312/remexca.v9i4.1393Keywords:
insurance, linear regression, premium, risksAbstract
For the small agricultural producer of the state of Puebla, with up to five hectares of surface area for production, the insurance systems offered by the private sector, or those of catastrophic insurance offered by the Government, are not within reach. Among the causes is the absence of a culture of risk management and the lack of approach to formal financial services. The present study exposes the proposal of a scheme of agricultural and personal insurance, under criteria of simplicity, offers the small farmer an affordable alternative, which bases its financial figures on the results of a linear regression calculated with data of the historical yields of the region, for a technically viable period, able to show the trend and future projection in tons per hectare. The cost of the insurance premium is obtained by applying the price of the product in question to the average of the variations with respect to its trend line, and the insured amount is obtained by valued at the same price, the estimated yield of the immediate subsequent cycle. This model ensures that in the medium term the producer receives every two years an amount equivalent to half of what he pays for insurance or an accumulated fund available for pension or compensation in stages of unemployment.
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