A Research On Influence Factors Of Farmers’ Agricultural Insurance Purchasing Intention Of Hebei Province

As a large agricultural province, Hebei is a province that seriously suffers agriculturaldisaster. Since the pilots of policy-oriented agriculture insurance, the agriculture insurance inHebei province has had a flourishing development, with the premium income growth yearafter year, insurance subsidies expanding steadily, and agriculture insurance businessoperated stably. Agriculture insurance of Hebei province has been the second largest categoryof property insurance market, which provide a money guarantee on post-disaster recovery andreconstruction of agricultural production.Farmers’ agriculture insurance purchasing intention determines the level of developmentof policy-oriented agriculture insurance. Although the agricultural insurance in Hebeiachieved unprecedented success, but there are some problems which impact seriously onfarmers insurance initiative, like less insurance, less underwriting responsibility, the low levelof protection, moral hazard and so on.In order to study the restricting factors affecting agriculture insurance coverage, wecarried out on-site visit and questionnaire survey on the farmers’ agriculture insurancepurchase intention of Hebei Province. On this basis, we used Logistic regression analysismethod to extract the main factors influencing the farmers’ purchase intentions, and putforward the policy recommendations to improve the farmers’ insurance purchase intentionaccording to the empirical results. This research investigates the farmers’ insurance purchaseintention from the following eight aspects: gender, age, family’s resident population,education degree, income sources and income level, disasters that farmers worry most, thecognition of agriculture insurance, insure and claim experiences, and insurance typeexpectations. The results are shown: age, income sources, education degree and whetherreceived indemnity have a significant effect on farmers’ participation intention.Finally, the paper put forward policy recommendations to improve purchasing intentionof farmers’ agricultural Insurance according to the empirical results.Firstly, in terms of insurance, in the fiscal affordable range, drought, fires and croppests and diseases that farmers concern about most should gradually be brought into insurablerisks, so as to improve the attractiveness and insure rate of policy-oriented agriculture insurance. Secondly, to improve the agricultural insurance system, we shoule makecoordination mechanisms between rural finance and agricultural insurance, such as linkagebetween bank and insurance, cooperation between agricultural subsidies and agriculturalinsurance, decrease the cost of information transfer, and improving work efficiency. Thirdiy,in order to spend the least money, to do as many things as possible, the level of subsidyshould be further improved, and explore differences in subsidies, improve the efficiency offinancial subsidies.Fourthly, in terms of publicity agricultural insurance, we should take advantage of avariety of information dissemination carriers likes television, Internet, radio, newspaper,phone, promotional materials to strengthen the promotion and education of risk preventionawareness of farmers, establish a system of agricultural insurance propaganda by governmentdepartments, insurance companies, and other multi-media participation. Fifthly, theinsurance company should improve the quality of the insurance company ’s claims, acceleratethe establishment of a sound long-term mechanism and professional talent pool ofagricultural insurance, train a group of highly qualified professional team of agriculturalinsurance. These are the long-term development measures of agricultural insurance.