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Economic Analysis of the Standard Reinsurance Agreement

Author

Listed:
  • Vedenov, Dmitry V.
  • Miranda, Mario J.
  • Dismukes, Robert
  • Glauber, Joseph W.

Abstract

The paper presents an economic analysis of the Standard Reinsurance Agreement (SRA), the contract that governs the relationship between the Federal Crop Insurance Corporation and the private insurance companies that deliver crop insurance products to farmers. The paper outlines provisions of the SRA and describes the modeling methodology behind the SRA simulator, a computer program developed to assist crop insurers and policymakers in assessing the economic impact of the Agreement. The simulator is then used to analyze how the SRA affects returns from underwriting crop insurance at various levels of aggregation.

Suggested Citation

  • Vedenov, Dmitry V. & Miranda, Mario J. & Dismukes, Robert & Glauber, Joseph W., 2004. "Economic Analysis of the Standard Reinsurance Agreement," 2004 Annual meeting, August 1-4, Denver, CO 20345, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea04:20345
    DOI: 10.22004/ag.econ.20345
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    References listed on IDEAS

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    1. Chuck Mason & Dermot J. Hayes & Sergio H. Lence, 2001. "Systemic Risk in U.S. Crop and Revenue Insurance Programs," Center for Agricultural and Rural Development (CARD) Publications 01-wp266, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    2. Calum Turvey & Govindaray Nayak & David Sparling, 1999. "Reinsuring Agricultural Risk," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 47(3), pages 281-291, November.
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    Cited by:

    1. Zhu, Xiaohong, 2016. "New models to estimate costs of US farm programs," ISU General Staff Papers 201601010800006209, Iowa State University, Department of Economics.
    2. Coble, Keith H. & Barnett, Barry J., 2008. "Implications of Integrated Commodity Programs and Crop Insurance," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 40(2), pages 1-12, August.
    3. Paulson, Nicholas D. & Babcock, Bruce A., 2008. "Get a Grip: Should Area Revenue Coverage Be Offered Through the Farm Bill or as a Crop Insurance Program?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(2), pages 1-17.
    4. Vedenov, Dmitry V. & Power, Gabriel J., 2008. "Risk-Reducing Effectiveness of Revenue versus Yield Insurance in the Presence of Government Payments," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 40(2), pages 1-17, August.

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    Keywords

    Risk and Uncertainty;

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