Weathering the Storm Legal Innovations in Climate-Indexed Agricultural Insurance

Abstract

Climate change is intensifying risks for farmers in developing nations, yet conventional agricultural insurance policies fail to provide adequate protection. This paper explores the potential of climate-indexed agricultural insurance and the legal innovations required to implement it effectively. By analyzing case studies from Bangladesh, the Philippines, and Ethiopia, the study highlights key legal barriers, including contract enforcement issues, data transparency concerns, and limited technological integration. The paper proposes legal frameworks that support blockchain-based smart contracts, automated claim settlements, and government-backed climate risk pools to revolutionize agricultural insurance.