We use cumulative rainfall data in the first subround in Sleman regency as a case study. In this approach, the claim limit is based on the rainfall index and the value of the barrier is determined according to the size of the extreme rainfall. This paper will discuss the cash-or-nothing up and in barrier option approach for determining insurance premiums where the risk of loss in terms of high rainfall, then compare it to the Black-Scholes option approach. Therefore, the type of crop insurance based on weather or rainfall must be developed and applied. Extreme weather, especially rainfall, has been the main cause of the crop failure. ![]() ![]() ![]() Crop insurance is a type of insurance that provides protection to farmers who hold an insurance policy for losses due to crop failure.
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