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Agricultural Economics

1996

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Full-Text Articles in Insurance

Estimating The Costs Of Mpci Under The 1994 Crop Insurance Reform Act, Chad E. Hart, Darnell B. Smith Mar 1996

Estimating The Costs Of Mpci Under The 1994 Crop Insurance Reform Act, Chad E. Hart, Darnell B. Smith

CARD Working Papers

The 1994 Crop Insurance Reform Act addressed two major problems of MPCI (multiple peril crop insurance): low participation and additional disaster assistance. In this study, total government costs for the FCIC (Federal Crop Insurance Corporation) and MPCI are estimated to be more than $2 billion, on average, from 1996 to 2003, with half of this amount being in the form of premium subsidies paid by the government.