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Crop insurance is insurance purchased by agricultural producers and subsidized by a country's government to protect against either the loss of their crops due to natural disasters, such as hail, drought, and floods ("crop-yield insurance"), or the loss of revenue due to declines in the prices of agricultural commodities ("crop-revenue insurance").
Catastrophic crop insurance (CAT) is a component of the U.S. federal crop insurance program, originally authorized by the Federal Crop Insurance Reform Act of 1994 (P.L. 103- 354). [1] CAT coverage compensates farmers for crop yield losses exceeding 50% of their average historical yield at a payment rate of 55% of the projected season average ...
The Risk Management Agency (RMA) was created in 1996 by the Federal Agriculture Improvement and Reform Act of 1996 to operate and manage the Federal Crop Insurance Corporation (FCIC). The FCIC was created in 1938, during the Great Depression , to provide insurance for farmers to allow them to profit from crop production even under difficult ...
The Federal Crop Insurance Corporation (FCIC) is a wholly owned government corporation managed by the Risk Management Agency of the United States Department of Agriculture. FCIC manages the federal crop insurance program, which provides U.S. farmers and agricultural entities with crop insurance protection. Corn crops bordering the Wabash River
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 .
Pages in category "Agricultural insurance in the United States" The following 5 pages are in this category, out of 5 total. This list may not reflect recent changes. A.
Bayer shares fell sharply to a 20-year low on Tuesday, after the chemical company warned that weak global agricultural markets and a slumping U.S. farm economy are likely to pressure profits further.
The 1994 Act amended and in many cases suppressed major portions of the Federal Crop Insurance Act of 1980 (P.L. 96-365) which serves as the authorizing statute for the federal crop insurance program. The 1980 Act expanded the scope of the crop insurance program and permitted USDA to subsidize farmer premium payments.
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