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Private Crop Insurers and the Reinsurance Fund Allocation Decision

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Author Info
Keith Coble (Mississippi State Department of Agricultural Economics)
Robert Dismukes (U.S. Department of Agriculture)
Joseph Glauber (U.S. Department of Agriculture)

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Abstract

This research investigates the strategic behavior of private crop insurance firms reinsured by the USDA through the Standard Reinsurance Agreement. This arrangement allows the private firm to strategically allocate individual policies into different risk sharing arrangements. Thus, firm earnings are conditioned upon accurately forecasting policy loss experience. Our analysis begins with models investigating the characteristics explaining the placement of policies into the assigned risk fund. Then a simulation model of the SRA is used to compare the post-SRA returns of actual firm allocations to two alternative allocation strategies based on aggregate models and a policy-level econometric forecasting model.

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File URL: http://129.3.20.41/eps/ri/papers/0506/0506003.pdf
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Publisher Info
Paper provided by EconWPA in its series Risk and Insurance with number 0506003.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 32 pages
Date of creation: 08 Jun 2005
Date of revision:
Handle: RePEc:wpa:wuwpri:0506003

Note: Type of Document - pdf; pages: 32
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Web page: http://129.3.20.41

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Related research
Keywords: Risk; insurance; reinsurance; logit; policy;

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Find related papers by JEL classification:
Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Mason, C. & Hayes, Dermot J. & Lence, Sergio H., 2004. "Systemic Risk in U.S. Crop and Revenue Insurance Programs," Staff General Research Papers 11396, Iowa State University, Department of Economics.
    Other versions:
  2. Mason, Chuck & Hayes, Dermot J. & Lence, Sergio H., 2001. "Systemic Risk in U.S. Crop and Reinsurance Programs," Staff General Research Papers 1944, Iowa State University, Department of Economics.
  3. Joseph W. Glauber, 2004. "Crop Insurance Reconsidered," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 86(5), pages 1179-1195, December. [Downloadable!] (restricted)
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This page was last updated on 2009-11-13.

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