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A Comparison of the Great Mississippi River Floods of 1993 and 2011: Implications for Crop Insurance and Reinsurance

Oscar Vergara

No 104897, AIRCurrents from AIR Worldwide Corporation

Abstract: The flooding situation in 2011 is similar in nature to the Great Mississippi Flood of 1993, but different in the particulars. First, the timing of the flood within the growing season is different. Second, the two floods occurred in different regions, with the 1993 flood affecting a portion of the Corn Belt and the 2011 flood affecting a region farther south. While floodwaters have inundated several million acres of cropland in 2011, yield losses from delayed planting are expected to be limited. Furthermore, the affected states from the current flood are primarily Group 2 states under the current SRA, which are provided with greater reinsurance protection by the government than the Group 1 states.

Keywords: Crop Production/Industries; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 14
Date: 2011-05-23
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DOI: 10.22004/ag.econ.104897

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