Estimating the Costs of MPCI Under the 1994 Crop Insurance Reform Act
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.
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- Goodwin, Barry K., 1994. "Premium Rate Determination In The Federal Crop Insurance Program: What Do Averages Have To Say About Risk?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 19(02), December.
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