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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").
MPCI protects against crop yield losses by allowing participating producers to insure a certain percentage of historical crop production. A single policy protects crops against all natural perils including adverse weather, fire, insects, disease, wildlife, earthquake, volcanic eruption and failure of irrigation water due to unavoidable causes.
An agricultural value chain is the integrated range of goods and services (value chain) necessary for an agricultural product to move from the producer to the final consumer. The concept has been used since the beginning of the millennium, primarily by those working in agricultural development in developing countries , although there is no ...
West Des Moines-based Farmers Mutual Hail Insurance Co. of Iowa says it’s buying Global Ag Insurance Services, a California crop insurance business.
Index-based insurance does not always provide farmers with indemnities when they experience crop or animal losses and the indemnity payments sometimes do not accurately reflect the size of the losses they experience. This is because an index is based on a geographical area within which farmers may have different experiences with, e.g., rainfall.
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
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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 ...