Review article: Design and evaluation of weather index insurance for multi-hazard resilience and food insecurity
<p>Ensuring food security against climate risks has been a growing challenge recently. Weather index insurance has been pointed out as a tool for increasing the financial resilience of food production. However, the multi-hazard insurance design needs to be better understood. This paper aims to...
| Main Authors: | , , , , , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Copernicus Publications
2023-04-01
|
| Series: | Natural Hazards and Earth System Sciences |
| Online Access: | https://nhess.copernicus.org/articles/23/1335/2023/nhess-23-1335-2023.pdf |
| _version_ | 1797851243010326528 |
|---|---|
| author | M. R. Benso M. R. Benso M. R. Benso G. C. Gesualdo R. F. Silva R. F. Silva R. F. Silva G. J. Silva G. J. Silva L. M. Castillo Rápalo F. A. R. Navarro P. A. A. Marques P. A. A. Marques P. A. A. Marques J. A. Marengo J. A. Marengo E. M. Mendiondo E. M. Mendiondo E. M. Mendiondo E. M. Mendiondo |
| author_facet | M. R. Benso M. R. Benso M. R. Benso G. C. Gesualdo R. F. Silva R. F. Silva R. F. Silva G. J. Silva G. J. Silva L. M. Castillo Rápalo F. A. R. Navarro P. A. A. Marques P. A. A. Marques P. A. A. Marques J. A. Marengo J. A. Marengo E. M. Mendiondo E. M. Mendiondo E. M. Mendiondo E. M. Mendiondo |
| author_sort | M. R. Benso |
| collection | DOAJ |
| description | <p>Ensuring food security against climate risks has been a growing challenge recently. Weather index insurance has been pointed out as a tool for increasing the financial resilience of food production. However, the multi-hazard insurance design needs to be better understood. This paper aims to review weather index insurance design for food security resilience, including the methodology for calculating natural hazards' indices, vulnerability assessment, and risk pricing. We searched for relevant research papers in the Scopus database using the Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA) protocol. Initially, 364 peer-reviewed papers from 1 January 2010 to 19 February 2022 were screened for bibliometric analysis. Then, the 26 most relevant papers from the last 5 years were systematically analyzed. Our results demonstrate that despite a significant research effort on index insurance, most papers focused on food production. However, research considering other aspects of food security, such as transportation, storage, and distribution, is lacking. Most research focuses on droughts. Other hazards, such as extreme temperature variation, excessive rainfall, and wildfires, were poorly covered. Most studies considered only single-hazard risk, and the multi-hazard risk studies assumed independence between hazards, neglecting the synergy hypothesis between hazards. Lastly, we proposed a conceptual framework that illustrates design paths for a generalized weather index insurance design and evaluation. Solutions for addressing multi-hazard problems are considered. An illustrative example demonstrates the importance of testing the multi-hazard risk hypothesis for weather-based index insurance design for soybean production in Brazil.</p> |
| first_indexed | 2024-04-09T19:13:40Z |
| format | Article |
| id | doaj.art-7e8b27a327e84324851c96bdc4b62810 |
| institution | Directory Open Access Journal |
| issn | 1561-8633 1684-9981 |
| language | English |
| last_indexed | 2024-04-09T19:13:40Z |
| publishDate | 2023-04-01 |
| publisher | Copernicus Publications |
| record_format | Article |
| series | Natural Hazards and Earth System Sciences |
| spelling | doaj.art-7e8b27a327e84324851c96bdc4b628102023-04-06T09:12:18ZengCopernicus PublicationsNatural Hazards and Earth System Sciences1561-86331684-99812023-04-01231335135410.5194/nhess-23-1335-2023Review article: Design and evaluation of weather index insurance for multi-hazard resilience and food insecurityM. R. Benso0M. R. Benso1M. R. Benso2G. C. Gesualdo3R. F. Silva4R. F. Silva5R. F. Silva6G. J. Silva7G. J. Silva8L. M. Castillo Rápalo9F. A. R. Navarro10P. A. A. Marques11P. A. A. Marques12P. A. A. Marques13J. A. Marengo14J. A. Marengo15E. M. Mendiondo16E. M. Mendiondo17E. M. Mendiondo18E. M. Mendiondo19WADI Lab, São Carlos School of Engineering, University of São Paulo, São Carlos, SP, BrazilNational Institute of Science and Technology for the Fight Against Hunger, São Paulo, SP, BrazilNational Institute of Science and Technology for Climate Change Phase 2 (INCT-II), São Paulo, SP, BrazilWADI Lab, São Carlos School of Engineering, University of São Paulo, São Carlos, SP, BrazilInstitute of Advanced Studies, University of São Paulo, São Paulo, SP, BrazilCenter for Artificial Intelligence (C4AI), São Paulo, SP, BrazilNational Institute of Science and Technology for the Fight Against Hunger, São Paulo, SP, BrazilWADI Lab, São Carlos School of Engineering, University of São Paulo, São Carlos, SP, BrazilNational Institute of Science and Technology for Climate Change Phase 2 (INCT-II), São Paulo, SP, BrazilWADI Lab, São Carlos School of Engineering, University of São Paulo, São Carlos, SP, BrazilWADI Lab, São Carlos School of Engineering, University of São Paulo, São Carlos, SP, BrazilLuiz de Queiroz College of Agriculture, University of São Paulo, Piracicaba, SP, BrazilCenter for Artificial Intelligence (C4AI), São Paulo, SP, BrazilNational Institute of Science and Technology for Climate Change Phase 2 (INCT-II), São Paulo, SP, BrazilBrazilian National Center for Monitoring and Early Warning of Natural Disasters (CEMADEN), São José dos Campos, SP, BrazilNational Institute of Science and Technology for Climate Change Phase 2 (INCT-II), São Paulo, SP, BrazilWADI Lab, São Carlos School of Engineering, University of São Paulo, São Carlos, SP, BrazilCenter for Artificial Intelligence (C4AI), São Paulo, SP, BrazilNational Institute of Science and Technology for the Fight Against Hunger, São Paulo, SP, BrazilNational Institute of Science and Technology for Climate Change Phase 2 (INCT-II), São Paulo, SP, Brazil<p>Ensuring food security against climate risks has been a growing challenge recently. Weather index insurance has been pointed out as a tool for increasing the financial resilience of food production. However, the multi-hazard insurance design needs to be better understood. This paper aims to review weather index insurance design for food security resilience, including the methodology for calculating natural hazards' indices, vulnerability assessment, and risk pricing. We searched for relevant research papers in the Scopus database using the Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA) protocol. Initially, 364 peer-reviewed papers from 1 January 2010 to 19 February 2022 were screened for bibliometric analysis. Then, the 26 most relevant papers from the last 5 years were systematically analyzed. Our results demonstrate that despite a significant research effort on index insurance, most papers focused on food production. However, research considering other aspects of food security, such as transportation, storage, and distribution, is lacking. Most research focuses on droughts. Other hazards, such as extreme temperature variation, excessive rainfall, and wildfires, were poorly covered. Most studies considered only single-hazard risk, and the multi-hazard risk studies assumed independence between hazards, neglecting the synergy hypothesis between hazards. Lastly, we proposed a conceptual framework that illustrates design paths for a generalized weather index insurance design and evaluation. Solutions for addressing multi-hazard problems are considered. An illustrative example demonstrates the importance of testing the multi-hazard risk hypothesis for weather-based index insurance design for soybean production in Brazil.</p>https://nhess.copernicus.org/articles/23/1335/2023/nhess-23-1335-2023.pdf |
| spellingShingle | M. R. Benso M. R. Benso M. R. Benso G. C. Gesualdo R. F. Silva R. F. Silva R. F. Silva G. J. Silva G. J. Silva L. M. Castillo Rápalo F. A. R. Navarro P. A. A. Marques P. A. A. Marques P. A. A. Marques J. A. Marengo J. A. Marengo E. M. Mendiondo E. M. Mendiondo E. M. Mendiondo E. M. Mendiondo Review article: Design and evaluation of weather index insurance for multi-hazard resilience and food insecurity Natural Hazards and Earth System Sciences |
| title | Review article: Design and evaluation of weather index insurance for multi-hazard resilience and food insecurity |
| title_full | Review article: Design and evaluation of weather index insurance for multi-hazard resilience and food insecurity |
| title_fullStr | Review article: Design and evaluation of weather index insurance for multi-hazard resilience and food insecurity |
| title_full_unstemmed | Review article: Design and evaluation of weather index insurance for multi-hazard resilience and food insecurity |
| title_short | Review article: Design and evaluation of weather index insurance for multi-hazard resilience and food insecurity |
| title_sort | review article design and evaluation of weather index insurance for multi hazard resilience and food insecurity |
| url | https://nhess.copernicus.org/articles/23/1335/2023/nhess-23-1335-2023.pdf |
| work_keys_str_mv | AT mrbenso reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT mrbenso reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT mrbenso reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT gcgesualdo reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT rfsilva reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT rfsilva reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT rfsilva reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT gjsilva reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT gjsilva reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT lmcastillorapalo reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT farnavarro reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT paamarques reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT paamarques reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT paamarques reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT jamarengo reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT jamarengo reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT emmendiondo reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT emmendiondo reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT emmendiondo reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity AT emmendiondo reviewarticledesignandevaluationofweatherindexinsuranceformultihazardresilienceandfoodinsecurity |