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Crop Insurance
Crop insurance is purchased by agricultural producers, and subsidized by the federal government, to protect against either the loss of their crops due to natural disasters, such as hail, drought, and floods, or the loss of revenue due to declines in the prices of agricultural commodities. The two general categories of crop insurance are called crop-yield insurance and crop-revenue insurance. On average, the federal government subsidizes 62 percent of the premium. In 2019, crop insurance policies covered almost 380 million acres. Major crops are insurable in most counties where they are grown, and approximately 90% of U.S. crop acreage is insured under the federal crop insurance program. Four crops—corn, cotton, soybeans, and wheat— typically account for more than 70% of total enrolled acres. For these major crops, a large share of plantings is covered by crop insurance. Specialty crops A farmer or grower may desire to grow a crop associated with a particular defined attribute ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Failed Acreage
Failed acreage refers to tracts of properly-planted and managed crops that did not grow or were destroyed due to a natural disaster. In the United States of America, failed acreage is eligible for indemnification if covered by the federal crop insurance program The Federal Crop Insurance Corporation (FCIC) is a wholly owned government corporation managed by the Risk Management Agency of the United States Department of Agriculture. FCIC manages the federal crop insurance program, which provides U.S. farme .... References * {{DEFAULTSORT:Failed Acreage Agriculture in the United States ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Agricultural Insurance Scheme
National may refer to: Common uses * Nation or country ** Nationality – a ''national'' is a person who is subject to a nation, regardless of whether the person has full rights as a citizen Places in the United States * National, Maryland, census-designated place * National, Nevada, ghost town * National, Utah, ghost town * National, West Virginia, unincorporated community Commerce * National (brand), a brand name of electronic goods from Panasonic * National Benzole (or simply known as National), former petrol station chain in the UK, merged with BP * National Car Rental, an American rental car company * National Energy Systems, a former name of Eco Marine Power * National Entertainment Commission, a former name of the Media Rating Council * National Motor Vehicle Company, Indianapolis, Indiana, USA 1900-1924 * National Supermarkets, a defunct American grocery store chain * National String Instrument Corporation, a guitar company formed to manufacture the first resonator g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agricultural Insurance
Crop insurance is purchased by agricultural producers, and subsidized by the federal government, to protect against either the loss of their crops due to natural disasters, such as hail, drought, and floods, or the loss of revenue due to declines in the prices of agricultural commodities. The two general categories of crop insurance are called crop-yield insurance and crop-revenue insurance. On average, the federal government subsidizes 62 percent of the premium. In 2019, crop insurance policies covered almost 380 million acres. Major crops are insurable in most counties where they are grown, and approximately 90% of U.S. crop acreage is insured under the federal crop insurance program. Four crops—corn, cotton, soybeans, and wheat— typically account for more than 70% of total enrolled acres. For these major crops, a large share of plantings is covered by crop insurance. Specialty crops A farmer or grower may desire to grow a crop associated with a particular defined attribute ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Weather Insurance
Weather insurance insures against weather variations. There are two insurable types of weather insurance: conditional weather insurance and weather cancellation insurance. Weather cancellation insurance Weather cancellation insurance reduces an organization’s risk in planning an outdoor event. When a company or organization is holding a concert, running a special event, having a sale, or executing any form of outdoor activity and the weather prevents that activity from taking place, the organization risks losing whatever money that has been invested in the planning, organization, marketing and operation of the event. Weather cancellation insurance ensures that if inclement weather does occur, the organization will not lose their investment. Instead, an insurance company will cover those costs based on the size and type of the weather cancellation insurance purchased. Conditional weather insurance Conditional weather insurance gives companies the ability to make promotional ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hail Cannon
A hail cannon is a shock wave generator claimed to disrupt the formation of hailstones in the atmosphere. These devices frequently engender conflict between farmers and neighbors when used, because they are repeatedly fired every 1 to 10 seconds while a storm is approaching and until it has passed through the area, yet there is no scientific evidence for their effectiveness. Historical use In the French wine-growing regions, church-bells were traditionally rung in the face of oncoming storms and later replaced by firing rockets or cannons. Modern systems A mixture of acetylene and oxygen is ignited in the lower chamber of the machine. As the resulting blast passes through the neck and into the cone, it develops into a shock wave. This shock wave then travels through the cloud formations above, a disturbance which manufacturers claim disrupts the growth phase of hailstones. Manufacturers claim that what would otherwise have fallen as hailstones then falls as slush or rain. It ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Group Risk Protection
Group Risk Protection (GRP) is a form of crop insurance available in certain parts of the United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori .... GRP makes an indemnity payment to all participating crop farmers when the entire county's crop production is a certain percentage below the normal production level of the county. This differs from the basic crop insurance program that makes payments to participating farmers when the individual farmer's own crop yield is less than the producer's normal yield. References {{CRS, article = Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition, url = http://ncseonline.org/nle/crsreports/05jun/97-905.pdf, author= Jasper Womach United States Department of Agriculture programs Agricultural subsidie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Index-based Insurance
Index-based insurance, also known as index-linked insurance or, simply, index insurance, is primarily used in agriculture. Because of the high cost of assessing losses, traditional insurance based on paying indemnities for actual losses incurred is usually not viable, particularly for smallholders in developing countries. With index-based insurance, payouts are related to an “index” that is closely correlated to agricultural production losses, such as one based on rainfall, yield or vegetation levels (e.g. pasture for livestock). Payouts are made when the index exceeds a certain threshold, often referred to as a “trigger”. Index-based insurance is not therefore designed to protect farmers against every peril, but only where there is a widespread risk that significantly influences a farmer’s livelihood. Many such indices now make use of satellite imagery. Justification for index-based insurance Insuring risk in small-scale agriculture faces particular problems that are n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Buy-up Coverage
Buy-up coverage is the portion of crop insurance coverage for which a participating farmer in the US pays a premium. During the 2000s, the system offered catastrophic (CAT) crop insurance coverage without any premium payments required of the farmer. Any coverage purchased above the CAT level was referred to as buy-up coverage, and was partially subsidized by the US federal government. The Agricultural Act of 2014 The Agricultural Act of 2014 (; , also known as the 2014 U.S. Farm Bill), formerly the Federal Agriculture Reform and Risk Management Act of 2013, is an act of Congress that authorizes nutrition and agriculture programs in the United States for t ... adjusted buy-up coverage limits and premium payments, along with buyers' costs, as part of a shift away from direct subsidies. References * {{DEFAULTSORT:Buy-Up Coverage Agriculture in the United States ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Weather Based Crop Insurance
Weather is the state of the atmosphere, describing for example the degree to which it is hot or cold, wet or dry, calm or stormy, clear or cloudy. On Earth, most weather phenomena occur in the lowest layer of the planet's atmosphere, the troposphere, just below the stratosphere. Weather refers to day-to-day temperature, precipitation, and other atmospheric conditions, whereas climate is the term for the averaging of atmospheric conditions over longer periods of time. When used without qualification, "weather" is generally understood to mean the weather of Earth. Weather is driven by air pressure, temperature, and moisture differences between one place and another. These differences can occur due to the Sun's angle at any particular spot, which varies with latitude. The strong temperature contrast between polar and tropical air gives rise to the largest scale atmospheric circulations: the Hadley cell, the Ferrel cell, the polar cell, and the jet stream. Weather system ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Modified National Agriculture Insurance Scheme
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Modified may refer to: * ''Modified'' (album), the second full-length album by Save Ferris *Modified racing, or "Modifieds", an American automobile racing genre See also * Modification (other) * Modifier (other) Modifier may refer to: * Grammatical modifier, a word that modifies the meaning of another word or limits its meaning ** Compound modifier, two or more words that modify a noun ** Dangling modifier, a word or phrase that modifies a clause in an a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agriculture Insurance Company Of India
Agriculture Insurance Company of India Limited (AIC) is a central public sector undertaking under the ownership of Ministry of Finance, Government of India. It offers yield-based and weather-based crop insurance programs in almost 500 districts of India. It covers almost 20 million farmers, making it the biggest crop insurer in the world in number of farmers served. Agriculture Insurance Company of India Limited is a development finance institution headquartered out of New Delhi, India AIC aims to provide insurance coverage and financial support to the farmers in the failure of any of the notified crop as a result of natural calamities, pests and diseases to restore their creditworthiness for the ensuing season; to encourage the farmers to adopt progressive farming practices, high value in-puts and higher technology; to help stabilize farm incomes, particularly in disaster years. The plan provides comprehensive risk insurance for yield losses due to natural fire and lightning ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
