Abstract. Recent evolutions of the natural environment launched a number of warnings regarding the sustainability of economic growth and development. The boldest threat is the one of climate change that is foreseen as a catastrophe unless urgent action is taken in both directions mitigation and adaptation. Agriculture and food production are amongst the most important variables shaping the prospects of society for centuries. Their status was determined always by natural factors but recently the impact of economic factors is more influential. Therefore climate change is about to create important economic challenges for agriculture that call for guidelines, support, and initiative to enact changes needed for emission reduction and more importantly for increasing the adaptability of farms in all regions while preserving and improving the wealth of farmers. The paper provide a synthesis of climate change impact along with a brief review of adaptation measures already enforced and discusses the innovative solutions for adaptation that could be employed for the financial management of farms.

Keywords: climate change, agriculture, crop insurance, weather index.