The report consists of seven chapters, starting with this introduction. Chapter 2 provides a review of agricultural insurance in Nepal. Chapter 3 presents a detailed risk assessment of the main crops and livestock in Nepal. Chapter 4 identifies the suitable crop and livestock insurance products that could be developed and piloted in a second phase. Chapter 5 discusses the operational challenges in the design and implementation of an agricultural insurance program. Chapter 6 focuses on the institutional challenges in the development of an agricultural insurance program, and discusses public-private partnerships in agricultural insurance. Chapter 7 presents conclusions and recommendations. The report ends with seven technical annexes, provided for reference purposes.