COMPARATIVE ANALYSIS OF SPECIAL TERMS AND CONDITIONS FOR CROP INSURANCE IN THE AGRICULTURE INSURANCE MARKET IN SERBIA

Crop insurance i.e. the insurance of crops and fruit in Serbia is effected on a voluntary basis, under the general and special insurance terms and conditions defined by insurance companies (insurers) in accordance with the Insurance Law. The aim of this paper is to analyse the offer of crop insurance in the agriculture insurance market in Serbia and identify if the causes for insufficient development of this type of insurance lie in the offer. For that purpose, the paper will use the comparative research method to compare and analyse special crop insurance terms and conditions i.e. terms and conditions for insurance of crops and fruit issued by the four major domestic insurers. Based on the conducted research, it can be concluded that on the agricultural insurance market in Serbia, there is a satisfactory offer regarding crop insurance, that is, the reasons for insufficient development of this insurance line do not lie in the offer. Instead, demand will need to be encouraged and developed, as is the case with majority of other insurance lines on the domestic market.

Key words: crop insurance, special insurance terms and conditions, agricultural insurance market, insurance in Serbia