Agricultural drought insurance: Austria as a case study

This factsheet focuses on Austria as a country that is implementing more comprehensive agricultural insurance policies by expanding premium subsidies to replace ad-hoc compensation for damages caused by insurable weather extremes. The indemnity-based yield insurance in the country now includes an option for index-based products against certain conditions, such as a reduction in rainfall, rather than actual yield loss.

This factsheet outlines the Austrian insurance set-up and public involvement in it. The information is based on expert interviews with representatives from the Austrian Hail Insurance and the Austrian Ministry for Agriculture, Forestry, Environment and Water (BMLFUW), as well as official information from both institutions.