LIVESTOCK INSURANCE IN KARNATAKA – A CRITICAL ANALYSIS
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Date
2022
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KARNATAKA VETERINARY, ANIMAL AND FISHERIES SCIENCES UNIVERSITY, BIDAR 585 401
Abstract
Livestock insurance is an important risk mitigation tool especially for the
resource poor farmers. Present study was conducted in Karnataka to assess the status of
livestock insurance, awareness and adoption level, constraints, and suggestions for
livestock insurance. An exploratory research design was adopted. Sample respondents
of 100 adopters, 100 non-adopters, 200 veterinarians, 100 bankers and 50 staff of
insurance agency. About 3 per cent of the total livestock of the state was covered under
insurance during 2020-21through schemes. Out of 4 revenue divisions highest LI was
covered in Bengaluru division. Adopters had medium to high level of awareness on
procedures in availing and settling of LI. Awareness through extension participation
and contacts, and positive experiences were the major factors influencing adoption of
LI. Compared to native cattle (6) and buffaloes (23) crossbred cattle (231) and graded
buffaloes (36) were insured in high numbers. None of the LI adopters availed LI directly
from insurance company. Milk unions (49) were the major source of LI across the study
area followed by Department of Animal Husbandry and banks. Experience of farmers
with respect to LI was very low and renewal was high in south Karnataka whereas, it
was almost negligible in north Karnataka. Education, family income, extension contact
have positive corelation while, family size has negative corelation with LI adoption.
Non availability of LI round the year and to all livestock, high premium rates, lengthy
and complex LI procedures, and delay in claim settlement were the major constraints
to the farmers. Addressing the important constraints, awareness programs on LI in
campaign mode, ease in LI procedures with use of android apps were the suggestions
perceived as necessary for improving the status of LI adoption.