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Can Certification Enhance the Feasibility of Insurance?

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Certification – Trust, Accountability, Liability

Part of the book series: Studies in European Economic Law and Regulation ((SEELR,volume 16))

Abstract

The feasibility of insurance heavily depends on the behaviour of the insured. Certification can be a tool to facilitate risk classification and monitoring. This chapter aims to analyse the role of certification for insurance of risks in agriculture. We develop three cases: (1) liability insurance in the animal feed industry, (2) epidemic disease insurance for farmers, and (3) liability insurance in the horse business. Findings illustrate that certification schemes have potential to enhance feasibility of insurance schemes, among others as a tool to cope with adverse selection. It is recommended to further exploit opportunities of certification as part of insurance design to also address problems of moral hazard and systemic risk.

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Notes

  1. 1.

    See Meuwissen et al. (2009), p. 878.

  2. 2.

    See Breukers et al. (2008), p. 137; Meuwissen et al. (2003), p. 305; Meuwissen et al. (2013), p. 10.

  3. 3.

    See Rejda (1998).

  4. 4.

    See Meuwissen et al. (2001), p. 343.

  5. 5.

    See, e.g., Valeeva et al. (2006), p. 511, for feed safety risks in dairy chains; Tufa et al. (2010), p. 537, regarding yield risks of potato production.

  6. 6.

    Trienekens et al. (2012), p. 55.

  7. 7.

    Harrington and Niehaus (1999).

  8. 8.

    See Rejda (1998).

  9. 9.

    See Harrington and Niehaus (1999).

  10. 10.

    See Meuwissen et al. (2003).

  11. 11.

    See Rejda (1998).

  12. 12.

    See van Asseldonk et al. (2011), p. 169.

  13. 13.

    Rao (2013).

  14. 14.

    Valeeva et al. (2006), Meuwissen et al. (2009) and van Asseldonk et al. (2011).

  15. 15.

    See Breukers et al. (2008) and Meuwissen et al. (2003).

  16. 16.

    See Meuwissen et al. (2013).

  17. 17.

    Hitchens et al. (2010), p. 693.

  18. 18.

    Pashaei Kamali et al. (2014), p. 949.

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Authors and Affiliations

  1. Business Economics Group, Department of Social Sciences, Wageningen University, Wageningen, The Netherlands

    Miranda P. M. Meuwissen

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  1. Miranda P. M. Meuwissen
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Correspondence to Miranda P. M. Meuwissen .

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  1. University of Kassel , Kassel, Germany

    Peter Rott

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Meuwissen, M.P.M. (2019). Can Certification Enhance the Feasibility of Insurance?. In: Rott, P. (eds) Certification – Trust, Accountability, Liability. Studies in European Economic Law and Regulation, vol 16. Springer, Cham. https://doi.org/10.1007/978-3-030-02499-4_6

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  • DOI: https://doi.org/10.1007/978-3-030-02499-4_6

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  • Print ISBN: 978-3-030-02498-7

  • Online ISBN: 978-3-030-02499-4

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