crop insurance is one of the best strategies to tackle farm risks and encourage producers to adopt modern production technologies. in present study, a sample of 224 insured and uninsured pistachio growers was selected for interview and collected required data using a simple random sampling method. then a logit multinomial model was used to assess factors affecting the choice of supplemental ins...

--A catastrophe (CAT) bond is designed for peanut production as a means of transferring natural disaster risks from insurance purveyors to the global capital market. The CAT bond so designed is priced using state-level historical yields for peanut production in the southern part of the United States in the State of Georgia. The index triggering the CAT bond contract was based on percent deviati...

This study examines the factors that determine the likelihood of submitting a potentially fraudulent prevented planting claim. A theoretical model is developed and the theoretical predictions are empirically verified by utilizing a binary choice model and crop insurance data from the southern United States. The empirical results show that insured producers with higher prevented planting coverag...

In crop insurance design, the yield guarantee and the premium are very important parameters, both of which depend upon the yield distribution. Accordingly, the accurate modeling of yield distribution is essential for designing crop insurance contracts. This study employs historical county-level yield data for irrigated and dry wheat in East Azarbaijan Province, Iran for 1975-2013 to evaluate th...

The Agricultural Act of 2014 solidified insurance as the cornerstone of U.S. agricultural policy. The Congressional Budget Office (2014) estimates this Act will increase spending on agricultural insurance programs by $5.7 billion to a total of $89.8 billion over the next decade. In 2014, total government liabilities associated with the crop insurance program exceeded $108.5 billion. In light of...

This paper presents a review of the literature on the application of data mining techniques for the detection of insurance fraud. Academic literature were analyzed and classified into three types of insurance fraud (automobile insurance, crop insurance and healthcare insurance) and six classes of data mining techniques (classification, regression, clustering, prediction, outlier detection, and ...

An empirical procedure was developed to analyze the cost effectiveness of alternative crop insurance products in terms of increasing producer net returns and minimizing variation in net returns. Results indicate that CAT was the overwhelmingly preferred MPCI option for all scenarios. The ranking of the other MPCI options was consistently 50/100, 60/100, and 75/100 in all scenarios. The CRC opti...