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Estimating Returns Under Standard Reinsurance Agreement

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  • Vedenov, Dmitry V.

Abstract

The present paper describes the assumptions and modeling structure behind the SRA simulator, a user-friendly computer program developed in cooperation with RMA as a tool to assist policymakers in assessing the economic impact of the Standard Reinsurance Agreement. The simulator uses the historical data on yields, prices, and insurance losses for each district, crop, and insurance product in order to simulate a distribution of the book of business resulting from underwriting crop insurance either in aggregate or for a specific company.

Suggested Citation

  • Vedenov, Dmitry V., 2002. "Estimating Returns Under Standard Reinsurance Agreement," 2002 Annual meeting, July 28-31, Long Beach, CA 19720, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea02:19720
    DOI: 10.22004/ag.econ.19720
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    References listed on IDEAS

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    1. Chuck Mason & Dermot J. Hayes & Sergio H. Lence, 2001. "Systemic Risk in U.S. Crop and Revenue Insurance Programs," Center for Agricultural and Rural Development (CARD) Publications 01-wp266, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    2. Kenneth L. Judd, 1998. "Numerical Methods in Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262100711, April.
    3. Jerry R. Skees & Michael R. Reed, 1986. "Rate Making for Farm-Level Crop Insurance: Implications for Adverse Selection," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 68(3), pages 653-659.
    4. Barry K. Goodwin & Alan P. Ker, 1998. "Nonparametric Estimation of Crop Yield Distributions: Implications for Rating Group-Risk Crop Insurance Contracts," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(1), pages 139-153.
    5. Mario J. Miranda & Joseph W. Glauber, 1997. "Systemic Risk, Reinsurance, and the Failure of Crop Insurance Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(1), pages 206-215.
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    Keywords

    Farm Management;

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