Industry Analysis & Industry Trends
Despite steep losses incurred in 2012, sharp increases in crop insurance protection in force and strong premium gains in 2011 have driven the performance of the Agricultural Insurance industry in the past five years. Moreover, regulatory changes are anticipated to dictate the industry's performance over the five years to 2019. The 2014 Farm Bill continues to solidify crop insurance as the most important means for farmers to hedge production and price risk. Ultimately, industry revenue is forecast to rise, with consistent increases in the agricultural price index driving up revenue from 2016 onward.... purchase to read more
Industry Report - Industry Products Chapter
Agricultural insurance, or crop insurance, plays an integral role in managing risk for the modern American farmer. There are two primary types of crop insurance in the United States: multiple peril crop insurance (MPCI) and crop-hail insurance. The following product breakdown is based on MPCI and crop-hail premium data provided by Rain and Hail LLC for the crop insurance industry.
Multiple Peril Crop Insurance (MPCI)
Multiple peril crop insurance (MPCI) policies are administered by Approved Insurance Providers (AIPs) and reinsured by the Federal Crop Insurance Corporation (FCIC). AIPs are required to enter into a Standard Reinsurance Agreement (SRA) with the FCIC... purchase to read more