Insights from the Crop Insurance Reform Act of 1994

H. Douglas Jose and Ram S. K. Valluru
Additional contact information
H. Douglas Jose: 102 H.C. Filley Hall, P.O. Box 830922, University of Nebraska, Lincoln, NE 68583-0922, Postal: 102 H.C. Filley Hall, P.O. Box 830922, University of Nebraska, Lincoln, NE 68583-0922
Ram S. K. Valluru: Agricultural Economics Department, University of Nebraska, Lincoln, Postal: Agricultural Economics Department, University of Nebraska, Lincoln

Agribusiness, 1997, vol. 13, issue 6, 587-598

Abstract: A survey was conducted to study the factors affecting crop insurance purchase and coverage, to identify the sources of risk in farming, and to determine the impact of policy changes on risk management for designing new educational programs. The survey results show that the new 1994 crop insurance program has been effective in increasing the insured pool of farmers, though it has not yet gained wide acceptance among the farming communities in Nebraska. Risks associated with price uncertainties turned out to be very important in the opinion of farmers. Knowledge of farmers about the futures market influenced the selection of appropriate marketing tools and aid in managing price risks. The new crop insurance program has been effective in communicating to the farming community that future ad hoc disaster payments are unlikely. © 1997 John Wiley & Sons, Inc.

Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:wly:agribz:v:13:y:1997:i:6:p:587-598

DOI: 10.1002/(SICI)1520-6297(199711/12)13:6<587::AID-AGR4>3.0.CO;2-#

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