Economic analysis of the standard reinsurance agreement

An economic analysis is presented of the Standard Reinsurance Agreement (SRA), the contract governing the relationship between the Federal Crop Insurance Corporation and the private insurance companies that deliver crop insurance products to farmers. The paper outlines provisions of the SRA and desc...

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Bibliographic Details
Published in:Agricultural finance review 2004-11, Vol.64 (2), p.119-134
Main Authors: Vedenov, Dmitry V., Miranda, Mario J., Dismukes, Robert, Glauber, Joseph W.
Format: Article
Language:English
Subjects:
Crop insurance
Crops
Economic analysis
Economic impact
Economics
Policy analysis
Reinsurance
Risk modeling
Standard Reinsurance Agreement
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Summary:An economic analysis is presented of the Standard Reinsurance Agreement (SRA), the contract governing the relationship between the Federal Crop Insurance Corporation and the private insurance companies that deliver crop insurance products to farmers. The paper outlines provisions of the SRA and describes the modeling methodology behind the SRA simulator, a computer program developed to assist crop insurers and policy makers in assessing the economic impact of the Agreement. The simulator is then used to analyze how the SRA affects returns from underwriting crop insurance. The results are presented in aggregate and also at the regional and individual company levels.
ISSN:0002-1466
2041-6326
DOI:10.1108/00214660480001158