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Estimating the Costs of MPCI Under the 1994 Crop Insurance Reform Act

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Abstract

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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  • Chad E. Hart & Darnell B. Smith, 1996. "Estimating the Costs of MPCI Under the 1994 Crop Insurance Reform Act," Center for Agricultural and Rural Development (CARD) Publications 96-wp158, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    • Handle: RePEc:ias:cpaper:96-wp158
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    1. 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(2), pages 1-14, December.
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