is a developing tropical country on the Atlantic coast of South America and a
member of the Caribbean Community (CARICOM). Guyana has a land mass of 214,970 sq.
km and the current estimated population is 772,298 with approximately 90%
living on the coastal land of the country. This is a narrow strip of land which
constitutes only 10% of the total land mass, but provided 90% of its
cultivation land. Guyana ‘s coastal plain is below sea level and its muddy and
clay soil texture makes it ideal for rice cultivation. The cultivation and
export of sugar, rice along with gold, bauxite, shrimp and timber contributes
to the country approximately 60% of its Gross Domestic Product. Guyana has two
major rainy seasons per year- May to August and November to January, which can
result in overflow of rivers causing the agriculture sector to suffer losses
mainly from flooding, especially flash floods.
research aims to investigate the viability of a crop insurance scheme in
Guyana. This is because the current system by the government to provide relief
to farmers affected by crop failure for whatever reason is not sufficient to compensate
them for full extent of the losses suffered. Current data obtained Windward Island
Crop Insurance Limited suggest that there are crop insurance in other CARICOM
countries providing significant assistance to farmers especially in the
Windward Islands which are prone to hurricane of increasing magnitude.
Keywords: Crop Insurance, Government Aid &
Windward Island Crop Insurance Limited.
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