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This study investigates the factors influencing the adoption of crop insurance among cotton farmers and identifies the constraints faced by insured farmers in the Virudhunagar district of Tamil Nadu, India. Using a sample of 350 cotton farmers, the study explores how socio-economic factors, insurance knowledge, and past yield loss experiences impact farmers' decisions to adopt crop insurance. A probit model is employed to analyse the data, revealing that insurance knowledge and past yield loss experiences significantly affect insurance adoption. The study also identifies key constraints faced by insured farmers, such as delays in claim payments and no compensation even during crop failures. Additionally, the research assesses the various risk management strategies employed by farmers, stressing a predominant reliance on informal support systems and asset-based solutions. This highlights the need for enhanced insurance awareness and improved insurance schemes to better support farmers in managing agricultural risks. Additionally, these findings emphasize the importance of utilizing technology to streamline claim settlements, thereby ensuring timely payments and enhancing transparency in the process.
Diyyala et al. (Thu,) studied this question.
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