IDEAS home Printed from https://ideas.repec.org/p/ags/usdami/338292.html
   My bibliography  Save this paper

Climate Change Impacts on Crop Insurance

Author

Listed:
  • Beach, Robert H.
  • Zhen, Chen
  • Thomson, Allison
  • Rejesus, Roderick M.
  • Sinha, Paramita
  • Lentz, Anthony W.
  • Vedenov, Dmitry V.
  • McCarl, Bruce A.

Abstract

Excerpt from the Executive Summary: In this report, we provide an assessment of the potential long-term implications of climate change on the U.S. crop insurance portfolio. Agricultural producers have always faced numerous production and price risks, but forecasts of more rapid changes in climatic conditions in the future have raised concerns that these risks will increase in the future relative to historical conditions. In addition to implications for landowner decisions regarding land use, crop mix, and production practices, changing agricultural risks could potentially affect the performance of the crop insurance program. Thus, we assess the potential implications of climate change on the financial returns to both the public Federal Crop Insurance Corporation (FCIC) and the private approved insurance providers (AIPs) under the current Standard Reinsurance Agreement (SRA) and identify potential considerations for the specification of the SRA and other aspects of the crop insurance program that may help to mitigate financial impacts.

Suggested Citation

  • Beach, Robert H. & Zhen, Chen & Thomson, Allison & Rejesus, Roderick M. & Sinha, Paramita & Lentz, Anthony W. & Vedenov, Dmitry V. & McCarl, Bruce A., 2010. "Climate Change Impacts on Crop Insurance," USDA Miscellaneous 338292, United States Department of Agriculture.
    • Handle: RePEc:ags:usdami:338292
    DOI: 10.22004/ag.econ.338292
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/338292/files/CropInsuranceClimateChange2010.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.338292?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Schlenker, Wolfram & Hanemann, W Michael & Fisher, Anthony C, 2007. "Water Availability, Degree Days, and the Potential Impact of Climate Change on Irrigated Agriculture in California," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt8q8309qn, Department of Agricultural & Resource Economics, UC Berkeley.
    2. Wolfram Schlenker & W. Michael Hanemann & Anthony C. Fisher, 2005. "Will U.S. Agriculture Really Benefit from Global Warming? Accounting for Irrigation in the Hedonic Approach," American Economic Review, American Economic Association, vol. 95(1), pages 395-406, March.
    3. Bruce J. Sherrick & Fabio C. Zanini & Gary D. Schnitkey & Scott H. Irwin, 2004. "Crop Insurance Valuation under Alternative Yield Distributions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(2), pages 406-419.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Steve Newbold & Charles Griffiths & Christopher C. Moore & Ann Wolverton & Elizabeth Kopits, 2010. "The "Social Cost of Carbon" Made Simple," NCEE Working Paper Series 201007, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Aug 2010.
    2. Meyer, Kevin & Keiser, David A., 2016. "Adapting to Climate Change Through Tile Drainage: A Structural Ricardian Analysis," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235932, Agricultural and Applied Economics Association.
    3. Xinde Ji & Kelly M. Cobourn, 2021. "Weather Fluctuations, Expectation Formation, and Short-Run Behavioral Responses to Climate Change," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 78(1), pages 77-119, January.
    4. Meyer, Kevin Michael, 2017. "Three essays on environmental and resource economics," ISU General Staff Papers 201701010800006585, Iowa State University, Department of Economics.
    5. Jesse Tack & Ardian Harri & Keith Coble, 2012. "More than Mean Effects: Modeling the Effect of Climate on the Higher Order Moments of Crop Yields," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 94(5), pages 1037-1054.
    6. Sampson, Gabriel S. & Hendricks, Nathan P. & Taylor, Mykel R., 2019. "Land market valuation of groundwater," Resource and Energy Economics, Elsevier, vol. 58(C).
    7. Sampson, Gabriel & Hendricks, Nathan P. & Taylor, Mykel R., 2018. "Land Market Valuation of Groundwater Availability," 2018 Annual Meeting, August 5-7, Washington, D.C. 274320, Agricultural and Applied Economics Association.
    8. Howard, Peter & Sterner, Thomas, 2014. "Raising the Temperature on Food Prices: Climate Change, Food Security, and the Social Cost of Carbon," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 170648, Agricultural and Applied Economics Association.
    9. Suter, Jordan F. & Rouhi Rad, Mani & Manning, Dale T. & Goemans, Chris & Sanderson, Matthew R., 2021. "Depletion, climate, and the incremental value of groundwater," Resource and Energy Economics, Elsevier, vol. 63(C).
    10. Frank Ackerman & Elizabeth A. Stanton, 2013. "Climate Impacts on Agriculture: A Challenge to Complacency?," GDAE Working Papers 13-01, GDAE, Tufts University.
    11. Hansen, Zeynep K. & Lowe, Scott E. & Xu, Wenchao, 2014. "Long-term impacts of major water storage facilities on agriculture and the natural environment: Evidence from Idaho (U.S.)," Ecological Economics, Elsevier, vol. 100(C), pages 106-118.
    12. Dale T. Manning & Christopher Goemans & Alexander Maas, 2017. "Producer Responses to Surface Water Availability and Implications for Climate Change Adaptation," Land Economics, University of Wisconsin Press, vol. 93(4), pages 631-653.
    13. Anthony C. Fisher & W. Michael Hanemann & Michael J. Roberts & Wolfram Schlenker, 2012. "The Economic Impacts of Climate Change: Evidence from Agricultural Output and Random Fluctuations in Weather: Comment," American Economic Review, American Economic Association, vol. 102(7), pages 3749-3760, December.
    14. Mukherjee, Monobina & Schwabe, Kurt A., 2014. "Where's the salt? A spatial hedonic analysis of the value of groundwater to irrigated agriculture," Agricultural Water Management, Elsevier, vol. 145(C), pages 110-122.
    15. Brent, Daniel A., 2013. "The Value of Heterogeneous Property Rights: The Costs of Water Volatility," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 149698, Agricultural and Applied Economics Association.
    16. Mukherjee, Monobina & Schwabe, Kurt A., 2012. "Valuing Access To Multiple Water Supply Sources In Irrigated Agriculture With A Hedonic Pricing Model," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124604, Agricultural and Applied Economics Association.
    17. Daniel A. Brent, 2014. "The Value of Heterogeneous Property Rights and the Costs of Water Volatility," Monash Economics Working Papers 45-14, Monash University, Department of Economics.
    18. Tack, Jesse, 2013. "A Nested Test for Common Yield Distributions with Applications to U.S. Corn," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 38(1), pages 1-14, April.
    19. Melissa Dell & Benjamin F. Jones & Benjamin A. Olken, 2014. "What Do We Learn from the Weather? The New Climate-Economy Literature," Journal of Economic Literature, American Economic Association, vol. 52(3), pages 740-798, September.
    20. Daniel Cooley & Steven M. Smith, 2022. "Center Pivot Irrigation Systems as a Form of Drought Risk Mitigation in Humid Regions," NBER Chapters, in: American Agriculture, Water Resources, and Climate Change, pages 135-171, National Bureau of Economic Research, Inc.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:usdami:338292. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: http://www.usda.gov .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.