Farm income insurance as an alternative for traditional crop insurance

Growing number of threads in agricultural activity makes the farmers fear not only weather events such as ground frost, hail or hurricane. They point out that they most fear changes in legislation, speculation on agricultural markets or currency markets and falling prices due to the embargo. Traditional insurance contracts do not allow for even partial compensation to cover such losses. Therefore, it is necessary to prepare the insurance and financial solutions based on farm incomes. This article is an attempt to identify instruments that could start operating in the European Union's agriculture sector, with existing legislation, and at the same time would become an important element of the competitiveness against American or Canadian agriculture. (C) 2015 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).