Federal crop insurance : background and costs of insuring higher production risks / Audrey Pope, editor.

Format:

Book

Contributor:

Pope, Audrey, editor.

Series:

Agriculture issues and policies series.

Agriculture issues and policies

Language:

English

Subjects (All):

Crop insurance--Government policy--United States.

Crop insurance.

Crop insurance--United States--Costs.

Physical Description:

1 online resource (88 p.)

Place of Publication:

New York : Novinka, [2015]

Summary:

The federal crop insurance program began in 1938 when Congress authorized the Federal Crop Insurance Corporation. The current program, which is administered by the U.S. Department of Agriculture's Risk Management Agency (RMA), provides producers with risk management tools to address crop yield and/or revenue losses for about 130 crops. The federal farm safety net also includes the farm commodity support programs, which provide price and income support for a much narrower list of "covered and loan commodities" such as corn, wheat, rice, and peanuts. This book provides a primer on the federal crop insurance program and highlights changes to the program by the 2014 farm bill. It also the examines the government's cost of the crop insurance program; and the extent to which RMA's premium rates, as implemented, cover expected losses.

Contents:

FEDERAL CROP INSURANCE: BACKGROUND AND COSTS OF INSURING HIGHER PRODUCTION RISKS; FEDERAL CROP INSURANCE: BACKGROUND AND COSTS OF INSURING HIGHER PRODUCTION RISKS; Library of Congress Cataloging-in-Publication Data; CONTENTS; PREFACE; Chapter 1: FEDERAL CROP INSURANCE: BACKGROUND; SUMMARY; CROP INSURANCE HISTORY; PROGRAM BASICS; FEDERAL PROGRAM COSTS; STANDARD REINSURANCE AGREEMENT (SRA); CROP INSURANCE IN THE 2014 FARM BILL; VIEWS ON FEDERAL CROP INSURANCE; Chapter 2: CROP INSURANCE: IN AREAS WITH HIGHER CROP PRODUCTION RISKS, COSTS ARE GREATER, AND PREMIUMS MAY NOT COVER EXPECTED LOSSES

ABBREVIATIONSWHY GAO DID THIS STUDY; WHAT GAO RECOMMENDS; WHAT GAO FOUND; BACKGROUND; THE GOVERNMENT'S CROP INSURANCE COSTS ARE GREATER IN AREAS WITH HIGHER CROP PRODUCTION RISKS; RMA PREMIUM RATE CHANGES IN AREAS WITH HIGHER PRODUCTION RISKS MAY NOT COVER EXPECTED LOSSES; CONCLUSION; RECOMMENDATIONS FOR EXECUTIVE ACTION; AGENCY COMMENTS AND OUR EVALUATION; APPENDIX I: OBJECTIVES, SCOPE, AND METHODOLOGY; APPENDIX II: PREMIUMS IN THE 10 PERCENT OF COUNTIES WITH THE HIGHEST PREMIUM RATES, 2013; APPENDIX III: COMMENTS FROM THE U.S. DEPARTMENT OF AGRICULTURE; INDEX; Blank Page

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on print version record.

ISBN:

1-63483-367-8