Willingness And Influencing Factors Of Farmers’ Purchase Of Lobster Insurance In Qianjiang City

As the characteristics and economic lifeline of Qianjiang City, the development of crayfish aquaculture industry has a broad prospect. However, due to the professionalism of the crayfish farming and the lack of standardization of the rules of operation for production technology, high profits often accompany with high risk. In order to promote the smooth development of crayfish breeding and reduce loss caused by disaster, the development of aquaculture insurance has practical significance. And as a method to transfer the risk of farmers, aquaculture insurance has two kinds of reasons that restrict its development which are divided into internal factors and external factors. Internal factors include the scale of aquaculture, farmers’ awareness of insurance. External factors include agricultural insurance policy subsidies, the level of insurance rates, etc. Taking Qianjiang crayfish aquaculture as an example, this paper analyzes the factors which restrict the development of aquaculture in Hubei Province by building a binary logistic regression model on 300 households random sample data. The results show that: there are seven main factors that influence farmers purchase intention of aquaculture insurance which include aquatic breeding scale, crayfish farming technology, whether to join the level of farming cooperatives, farmers insurance cognition, subsidies for agricultural insurance policy, insurance company and the quality of service, insurance premium, among which farmers insurance on the cognitive and agricultural insurance subsidy policy play main role. It was concluded that the potential market demand for aquaculture insurance in Hubei Province is very large meanwhile the pilot scale is small and the farmers generally do not pay attention to the insurance. Therefore, the enterprises should take the initiative to increase product innovation, actively enhance the insurance service quality, focus on strengthening the insurance claims management, explore the establishment of catastrophe risk mechanism and responsibility mechanism and countermeasures. The government should increase publicity efforts of agricultural insurance policy and financial subsidy, accelerate the innovation of agricultural insurance operation mechanism and improve the legal system of agricultural insurance.