Spatio-Temporal Analysis of Federal Crop Insurance Cause of Loss Data: A Roadmap for Research and Outreach Efforts

Julian Reyes, Jeb Williamson and Emile Elias

No 337549, USDA Miscellaneous from United States Department of Agriculture

Abstract: Federal crop insurance provides a financial safety net for farmers against insured perils such as drought, heat, and freeze. In 2016 over $100 billion dollars of crops were insured through the Federal crop insurance program administered by the U.S. Department of Agriculture Risk Management Agency. In this white paper, we analyze publicly-available Federal crop insurance data to understand how weather and climate-related perils, or causes of loss (COL), change over time and spatial areas. We find that over 75% of all weather/climate-related indemnities (i.e., crop losses) from 2001 to 2016 are due to three COL: drought, excess moisture, and hail. However, the extent to which these top COL and others impact indemnities is highly dependent on the time period, temporal scale, and spatial scale of analysis. Moreover, we identify what COL are region- or season-specific, and visualize COL trends over time. Finally, we offer a road map of research applications to quantify such trends in indemnities, as well as outreach and extension efforts that include an online data portal.

Keywords: Agricultural and Food Policy; Crop Production/Industries; Research and Development/Tech Change/Emerging Technologies; Research Methods/Statistical Methods; Risk and Uncertainty; Teaching/Communication/Extension/Profession (search for similar items in EconPapers)
Pages: 23
Date: 2018-04
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://ageconsearch.umn.edu/record/337549/files/CropInsuranceLossData2018.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:usdami:337549

DOI: 10.22004/ag.econ.337549

Access Statistics for this paper

More papers in USDA Miscellaneous from United States Department of Agriculture
Bibliographic data for series maintained by AgEcon Search ().