Vol. 2, Issue 10, Part J (2016)

Abstract
The study examines the nature and scope of Weather-Based Crop Insurance schemes presently being implemented in the country as a 'specialty insurance' and its impact on the farmers (policyholder) in Palakkad. The study discusses the dissatisfaction level of farmers confronting the Weather Based Crop Insurance Scheme, which was hailed as a promising financial innovation in the recent times. The study points out that though the role of crop insurance as a critical risk mitigation tool has been widely appreciated, there has been inadequate policy intervention to overcome the socio-economic status of the farmers.