A Study on Operational Mechanism of the Insurance Model for Dairy Cow Farming in Moc Chau Dairy Cattle Breeding Joint Stock Company

Abstract

      This study was conducted to investigate the operational mechanism of the insurance model for dairy cow farming in Moc Chau Dairy Cattle Breeding Joint Stock Company. In addition to the secondary data, 96 dairy cow farm households who participated the insurance model of the company were selected for direct interviews. The study results show that the insurance model for dairy cows in the company attracted the participation of more than 500 dairy cow farming households with a total of 9411 cows. The success of this insurance model was derived from its relevant mechanism based on the consulative opinions of dairy farmers, close requirements for becoming insured, technical and financial supports by the company, flexible compensation schemes, and transparent and corect risk assessment. These are the valuable lessons for designing agriculural insurance progarm, especially animal insurance program in Vietnam in the coming time.