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Crop insurance is a risk-based program that currently [when?] covers more than 100 crops [citation needed] and does not make annual subsidy payments to farmers. When crop insurance does supply monetary payments to farmers, the payments come in the form of indemnity checks that restore a portion of an actual loss.
Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.
Contract farming involves agricultural production being carried out on the basis of an agreement between the buyer and farm producers. Sometimes it involves the buyer specifying the quality required and the price, with the farmer agreeing to deliver at a future date.
Product liability insurance. If you make something that hurts someone or makes them sick, your business can be held liable as the product manufacturer. But if your company has this type of small ...
Index-based insurance, also known as index-linked insurance, weather-index insurance or, simply, index insurance, is primarily used in agriculture. Because of the high cost of assessing losses, traditional insurance based on paying indemnities for actual losses incurred is usually not viable, particularly for smallholders in developing countries .
Multi-Peril Crop Insurance (MPCI) is the oldest and most common form of the federal crop insurance programme in the United States of America.MPCI protects against crop yield losses by allowing participating producers to insure a certain percentage of historical crop production.
Livestock can serve as insurance against risk [45] and is an economic buffer (of income and food supply) in some regions and some economies (e.g., during some African droughts). However, its use as a buffer may sometimes be limited where alternatives are present, [ 46 ] which may reflect strategic maintenance of insurance in addition to a ...
Commercial lines products are usually designed for relatively small legal entities. These would include workers' compensation (employers liability), public liability, product liability, commercial fleet and other general insurance products sold in a relatively standard fashion to many organisations. There are many companies that supply ...