The Study On Pricing Of Apple Income Insurance In Yantai

In 2017,the No.1 Document of the Central Government proposed to establish an income insurance system for agricultural products,and then the practice of agricultural product income insurance products appeared in China.In 2019,the No.l Document of the Central Government proposed to speed up the development of characteristic agricultural products and develop characteristic agriculture according to local conditions.The document also pointed out that it is necessary to innovate the existing types of agricultural insurance in China,and to pilot full-cost insurance and income insurance.At present,the innovative insurance for domestic agricultural insurance is mainly agricultural income insurance.Compared with traditional agricultural insurance,income insurance can not only cover the production risk,but also cover the price risk.It can improve the protection level of the original agricultural insurance,and expand the scope of protection.The current Apple insurance system in Shandong Province needs innovation.Because Yantai is the main producing area of apple in Shandong Province.Yantai apple is the dominant agricultural product with characteristics in China.The apple industry is the pillar industry of Yantai Agriculture.The standardization of apple products is high and the policy background is good.Therefore,this paper chooses to study the income insurance of Yantai Apple.According to the existing literature research,this paper first analyzes the current situation of Yantai apple industry.It studies the risk structure affecting Yantai fruit farmers'income,and expounds the model and steps of Yantai apple income insurance pricing.Then,using Yantai apple's yield and price data to fit its distribution,Matlab software is used to measure the parameters,coefficients and squared Euclidean distance of Copula function.Finally,the Copula function with the smallest square Euclidean distance is chosen as the pricing model for Yantai Apple's income insurance.The Monte Carlo simulation method is used to calculate the net rate of Yantai Apple's income insurance under different guaranteed income levels.Due to the high risks faced by Yantai Apple in the production and sales process,the net rate of Yantai Apple's income insurance is relatively high.Apple income insurance has expanded the coverage of traditional insurance and increased the enthusiasm of fruit farmers to grow apples.Therefore,it is necessary to implement Apple income insurance in Yantai.On the basis of pricing research.Yantai Apple's income insurance products were designed.In order to implement Yantai Apple's income insurance pricing application,it is also necessary to establish a diversified income insurance system,establish a Yantai Apple information database,improve the income insurance subsidy policy,play the role of the Apple futures market,conduct in-depth study of income insurance pricing methods,and formulate effective Legal norms and regulatory measures.