Agricultural Insurance: a matter of mutual cooperation Dirk Witteveen, De Nederlandsche Bank IAIS ASSAL Training Seminar, 27 April 2006
Outline Role of insurance Some characteristics IAIS as knowledgebase Mutual insurance Mutual cooperation and trust Bronvermelding voor deze gegevens: GDP: DNB Statistisch bulletin, tabel 6.1, regel 9.1 Banken: Wtk-register (jaarverslag DNB) en DNB Statistisch bulletin, tabel 7.1 Verzekeraars: en DNB Statistisch bulletin, tabel 3.1 Pensioenfondsen: en DNB Statistisch bulletin, tabel 3.1 Beleggingsinst´n: Wtb-register AFM en DNB Statistisch bulletin, tabel 3.1
Essential part of financial sector Facilitates entrepreneurship 1. Role of insurance Essential part of financial sector Facilitates entrepreneurship Important for both developed and developing economies Bronvermelding voor deze gegevens: GDP: DNB Statistisch bulletin, tabel 6.1, regel 9.1 Banken: Wtk-register (jaarverslag DNB) en DNB Statistisch bulletin, tabel 7.1 Verzekeraars: en DNB Statistisch bulletin, tabel 3.1 Pensioenfondsen: en DNB Statistisch bulletin, tabel 3.1 Beleggingsinst´n: Wtb-register AFM en DNB Statistisch bulletin, tabel 3.1
2. Some characteristics Insurance enabled by mutual cooperation Insurance part of a risk mitigating chain Risks should be quantifiable and diversifiable Role of government, regulator and supervisor Insurance is about trust
3. IAIS as knowledgebase Standard setting Giving guidance Relationships Knowledgebase
4. Mutual insurance Deep historical roots Includes non-financial help, education, support Also self regulation and self control Still providing modern solutions
5. Mutual cooperation and trust Implies mutual understanding, controlling and mitigating of risks Example: AGROASEMEX Keep an eye on other developments Agricultural insurance on the base of mutual cooperation and mutual trust will strongly support developing economies