Download or read book Improving the Effectiveness and Acceptability of the Federal Crop Insurance Program written by Dana H. Myrick and published by . This book was released on 1965 with total page 562 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Recommendations and Findings to Improve the Federal Crop Insurance Program written by United States. Commission for the Improvement of the Federal Crop Insurance Program and published by . This book was released on 1989 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Recommendations and Findings to Improve the Federal Crop Insurance Program written by and published by . This book was released on 1989 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Federal Crop Insurance Program Can be Made More Effective written by United States. General Accounting Office and published by . This book was released on 1977 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Crop Insurance written by United States. General Accounting Office and published by . This book was released on 1992 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hearing to Review Producers Views on the Effectiveness of the Federal Crop Insurance Program written by United States. Congress. House. Committee on Agriculture. Subcommittee on General Farm Commodities and Risk Management and published by . This book was released on 2009 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hearing to Review the Integrity and Efficacy of the Federal Crop Insurance Program written by United States. Congress. House. Committee on Agriculture. Subcommittee on General Farm Commodities and Risk Management and published by . This book was released on 2007 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Crop Insurance written by Lisa Shames and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The USDA's Risk Management Agency administers the federal crop insurance program in partnership with private insurers. In 2006, the program cost $3.5 billion, including millions in losses from fraud, waste, and abuse, according to USDA. The Agricultural Risk Protection Act of 2000 granted RMA authority to renegotiate the terms of RMA's standard reinsurance agreement with companies once over 5 years. This testimony is based on GAO's 2005 report, Crop Insurance: Actions Needed to Reduce Program's Vulnerability to Fraud, Waste, and Abuse, as well as new analyses this Committee requested on underwriting gains and administrative and operating expenses USDA paid companies. GAO discusses (1) USDA's processes to address fraud, waste, and abuse; (2) extent the program's design makes it vulnerable to abuse; and (3) reasonableness of underwriting gains and other expenses. USDA agreed with most of GAO's 2005 recommendations to improve program integrity. RMA agreed that GAO's new analyses were technically accurate. Congress has an opportunity in the Farm Bill reauthorization to grant RMA authority to periodically renegotiate the financial terms of its agreement with companies to provide reasonable cost allowances and underwriting gains. GAO reported that RMA did not use all available tools to reduce the crop insurance program's vulnerability to fraud, waste, and abuse. RMA has since taken some steps to improve its procedures. In particular: (1) USDA's Farm Service Agency inspections during the growing season were not being used to maximum effect. Between 2001 and 2004, FSA conducted only 64 percent of the inspections RMA requested. Without inspections, farmers may falsely claim crop losses. However, FSA said it could not conduct all requested inspections, as GAO recommended, because of insufficient resources. RMA now provides information more frequently so FSA can conduct timelier inspections. (2) RMA's data analysis of the largest farming operations was incomplete. In 2003, about 21,000 of the largest farming operations did not report all of the individuals or entities with an ownership interest in these operations, as required. Therefore, RMA was unaware of ownership interests that could help it prevent potential program abuse. FSA and RMA now share information to identify such individuals or entities. USDA should be able to recover up to $74 million in improper payments made during 2003. (3) RMA was not effectively overseeing insurance companies' efforts to control program abuse. According to GAO's review of 120 cases, companies did not complete all the required quality assurance reviews of claims, and those that were conducted were largely paper exercises. RMA agreed to improve oversight of their reviews, but GAO has not followed up to examine its implementation. RMA's regulations to implement the crop insurance program, as well as some statutory requirements, create design problems that hinder its efforts to reduce abuse. For example, the regulations allow farmers to insure fields individually rather than together. As such, farmers can "switch" reporting of yield among fields to make false claims or build up a higher yield history on a field to increase its eligibility for higher insurance guarantees. RMA did not agree with GAO's recommendation to address the problems associated with insuring individual fields. Statutorily high premium subsidies may also limit RMA's ability to control program abuse: the subsidies shield farmers from the full effect of paying higher premiums associated with frequent claims. From 2002 through 2006, USDA paid the insurance companies underwriting gains of $2.8 billion, which represents an average annual rate of return of 17.8 percent. In contrast, according to insurance industry statistics, the benchmark rate of return for companies selling property and casualty insurance was 6.4 percent. USDA renegotiated the financial terms of its standard reinsurance agreement with the companies in 2005, but their rate of return was 30.1 percent in 2005, and 24.3 percent in 2006. It also paid the companies a cost allowance of $4 billion to cover administrative and operating costs for 2002 through 2006. USDA recommended that Congress provide RMA with authority to renegotiate the financial terms and conditions of its standard reinsurance agreement once every 3 years.
Download or read book Crop Insurance written by and published by . This book was released on 2007 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Federal Crop Insurance Program Can be Made More Effective written by and published by . This book was released on 1977 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Considerations in Crop Insurance written by Warren R. Bailey and published by . This book was released on 1970 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book ERS written by Economic Research Service (U.S.) and published by . This book was released on 1970 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Determination of Optimal Crop Insurance Strategies in High risk Production Areas written by Gordon Andrew Smith and published by . This book was released on 1972 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bibliography of Agriculture written by and published by . This book was released on 1966 with total page 1034 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bulletin Montana State College Agricultural Experiment Station written by Montana Agricultural Experiment Station and published by . This book was released on 1970 with total page 1120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Seminar Series written by and published by . This book was released on 1983 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A E Res written by and published by . This book was released on 1972 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt:
