A Study On Income Insurance Of High Quality Wheat In Henan Province

Henan Province is China's main wheat producing area,and wheat production ranks first in the country.Both its production changes and price fluctuations will have a huge impact on farmers' lives.In 2016,Henan Province proposed the “four excellent and four-oriented” policy,and actively promoted the development of high-quality wheat.The high-quality wheat planting area has grown from 6 million mu in 2016 to 12 million mu in 2018.Yield risk and price risk are the two major factors affecting the income of high-quality wheat.The yield and price of high-quality wheat are higher than that of common wheat.When the risk is higher,the income loss is higher than that of common wheat.The traditional wheat planting insurance and the minimum purchase price Policies cannot meet the risk protection needs of quality wheat.In recent years,the government has attached great importance to the development of income insurance.Since 2016,the “Central No.1” document has proposed income insurance for four consecutive years.Henan Province has vigorously supported the development of high-quality wheat insurance for the development of high-quality wheat.Therefore,carrying out research on high-quality wheat income insurance in Henan Province can not only provide theoretical basis and practical reference for the development of income insurance,but also innovative risk management tools to stabilize farmers' income.After analyzing the necessity and feasibility of carrying out high-quality wheat income insurance in Henan Province,this paper concludes that Henan Province has the conditions for high-quality wheat income insurance.On this basis,Henan Province has designed a high-quality wheat income insurance plan,among which The issue of rate determination was studied.The yield and strong wheat futures price data of high-quality wheat main producing areas in Henan Province were selected,and the Copula function was introduced to establish the joint distribution of yield and price.The fitting results of t-Copula function in the five Copula functions were optimal,and the yield and price were between The correlation coefficient is 0.0115.Under the guarantee level of 70%-100%,the high-quality wheat income insurance has a pure rate between 0.51% and 5.76%,and the gross rate is between 0.73% and 8.35%.Under the 85% guarantee level,the premium wheat income insurance rate is 2.68%.Compared with traditional wheat planting insurance,the rate is reduced by 3.32%,the guarantee level is increased by 50%,and the scope of protection is expanded from materialized cost to production and price.Under the current premium subsidy policy,neither increasing the financial burden nor improving the level of protection,and carrying out high-quality wheat income insurance has an advantage.Finally,in order to promote the development of high-quality wheat income insurance,it is recommended that insurance companies face the promotion of new agricultural business entities,differentiate rates according to regions,enhance farmers' market risk awareness and innovative insurance management models.At the same time,the government needs to establish premium subsidy system and reinsurance risks.Decentralized mechanisms,enhanced data accumulation and co-constructed information sharing platforms.The innovation of this paper lies in the timing of the research rate,the price data adopts the strong wheat futures price,the futures price can better reflect the price distribution of high quality wheat,make the rate determination result more accurate,and propose in the framework of the existing premium subsidy policy.The government and farmers have two ways of sharing premiums.