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Understanding Crop Insurance Principles: A Primer For Farm Leaders

Author

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  • Barnett, Barry J.
  • Coble, Keith H.

Abstract

Federal policy-makers increasingly emphasize the Federal Crop Insurance Program as the primary federal risk management program for farmers. Farm leaders need to understand the underlying mechanics of insurance products if they are to effectively argue their interests and contribute constructively to future agricultural policy dialogue. Further they need to understand the unique circumstances created by the fact that the Federal Crop Insurance program functions as a public-private partnership between the U.S. government and private insurance companies. This manuscript describes both the fundamental features of insurance products and the political economy of the federal crop insurance program.

Suggested Citation

  • Barnett, Barry J. & Coble, Keith H., 1999. "Understanding Crop Insurance Principles: A Primer For Farm Leaders," Research Reports 15784, Mississippi State University, Department of Agricultural Economics.
    • Handle: RePEc:ags:missrr:15784
    DOI: 10.22004/ag.econ.15784
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    References listed on IDEAS

    as
    1. Jerry R. Skees & J. Roy Black & Barry J. Barnett, 1997. "Designing and Rating an Area Yield Crop Insurance Contract," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(2), pages 430-438.
    2. Kaplow, Louis, 1991. "Incentives and Government Relief for Risk," Journal of Risk and Uncertainty, Springer, vol. 4(2), pages 167-175, April.
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    Citations

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    Cited by:

    1. Nganje, William E. & Tiapo, Napoleon M. & Wilson, William W., 2001. "Crop Insurance Under Quality Uncertainty," 2001 Annual Meeting, July 8-11, 2001, Logan, Utah 36097, Western Agricultural Economics Association.
    2. Grover, Mansi & Bosch, Darrell J. & Preisley, Stephen P., 2005. "Effects of Private Insurance on Forest Landowners' Incentives to Sequester and Trade Carbon under Uncertainty: Impact of Hurricanes," 2005 Annual meeting, July 24-27, Providence, RI 19516, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Lysa Porth & Milton Boyd & Jeffrey Pai, 2016. "Reducing Risk Through Pooling and Selective Reinsurance Using Simulated Annealing: An Example from Crop Insurance," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 41(2), pages 163-191, September.
    4. Benjamin Dequiedt & Emmanuel Servonnat, 2016. "Risk as a limit or an opportunity to mitigate GHG emissions? The case of fertilisation in agriculture," Working Papers 1606, Chaire Economie du climat.
    5. Coble, Keith H., 2000. "Farm Risk Policy At A Crossroad," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 18(1), pages 1-14, March.
    6. Lysa Porth & Milton Boyd & Jeffrey Pai, 2016. "Reducing Risk Through Pooling and Selective Reinsurance Using Simulated Annealing: An Example from Crop Insurance," The Geneva Papers on Risk and Insurance Theory, Springer;International Association for the Study of Insurance Economics (The Geneva Association), vol. 41(2), pages 163-191, September.
    7. Nganje, William E. & Tiapo, Napoleon M. & Wilson, William W., 2002. "Economic Impact Of Scab With Alternative Risk Management Strategy: The Case Of Crop Quality Insurance In Barley," Agribusiness & Applied Economics Report 23641, North Dakota State University, Department of Agribusiness and Applied Economics.

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