Crop Insurance Today Third Quarter 2022 - 8
bined with Revenue Protection has an advantage
over HIP-WI when both options are available to
a crop in a county because HIP-WI does not offer
harvest price protection.
For certain policies, such as PRF, index coverage
is the only option but there is room for
improvement in this product as recently reviewed
(Coble et al. 2020). RMA has shared the
contractor's report on PRF with the public and
received about a thousand comments. Further,
since participation stands at about 27 percent
(covering 205.3 million acres), there is also room
for growth.
Index products may also be utilized by specialty
crop producers, targeting specific perils
such as freeze (Barnett 2004). Quality loss issues
associated with specialty crops may be one reason
that explains the lower uptake of crop insurance.
While major row crops have quality loss
coverage in place, there does not appear to be a
quality loss adjustment to the APH for specialty
crops (except apples). To offer some solution for
this lack of coverage, strawberry producers (who
previously had a nearly zero percent participation
rate with available products) recently became elIn
the future, area-based or indexbased
products will continue to
coexist with individual plans.
igible to use the HIP-WI product. In addition,
for strawberries grown in California and Florida,
there are also pilot revenue products being
offered: " Production Revenue History-Plus " and
" Production Revenue History-Revenue " . RMA
intends to extend the preceding products to other
specialty crops. Finally, under a contract extended
by RMA, research efforts are underway in developing
a specialty crop weather index product.
RMA is currently evaluating this research but has
not made any determination as to the usefulness
of such an index product (Ponds 2021).
Conclusion
In the future, area-based or index-based
products will continue to coexist with individual
plans. Technological advances, some inherent
advantages and behavioral factors appear
to give an edge to index-based products over
Errors and Omission Insurance
https://doi.org/10.1108/AFR-08-2019-0090
https://doi.org/10.1108/AFR-08-2019-0090
https://doi.org/10.1108/AFR-08-2013-0032
https://doi.org/10.1093/ajae/aas055
https://doi.org/10.1111/ajae.12282
http://ssrn.com/abstract=1776467
http://www.ssrn.com/abstract=1776467Electroniccopyavail
http://ssrn.com/abstract=1776467
https://doi.org/
https://doi.org/10.2111/1551-5028(2007)60[359:RSATRL]2.0.CO;2
https://doi.org/10.2111/1551-5028(2007)60[359:RSATRL]2.0.CO;2
https://doi.org/10.2111/1551-5028(2007)60[359:RSATRL]2.0.CO;2
http://www.tomstanleyinsurance.com
Crop Insurance Today Third Quarter 2022
Table of Contents for the Digital Edition of Crop Insurance Today Third Quarter 2022
Crop Insurance Today Third Quarter 2022 - Cover1
Crop Insurance Today Third Quarter 2022 - Cover2
Crop Insurance Today Third Quarter 2022 - 1
Crop Insurance Today Third Quarter 2022 - 2
Crop Insurance Today Third Quarter 2022 - 3
Crop Insurance Today Third Quarter 2022 - 4
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Crop Insurance Today Third Quarter 2022 - Cover3
Crop Insurance Today Third Quarter 2022 - Cover4
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https://www.nxtbook.com/allen/cint/56-1
https://www.nxtbook.com/allen/cint/55-4
https://www.nxtbook.com/allen/cint/55-3
https://www.nxtbook.com/allen/cint/55-2
https://www.nxtbook.com/allen/cint/55-1
https://www.nxtbook.com/allen/cint/54-4
https://www.nxtbook.com/allen/cint/54-3
https://www.nxtbook.com/allen/cint/54-2
https://www.nxtbook.com/allen/cint/54-1
https://www.nxtbook.com/allen/cint/53-4
https://www.nxtbook.com/allen/cint/53-03
https://www.nxtbook.com/allen/cint/53-02
https://www.nxtbook.com/allen/cint/53-01
https://www.nxtbook.com/allen/cint/52-04
https://www.nxtbook.com/allen/cint/52-03
https://www.nxtbook.com/allen/cint/52-02
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http://www.brightcopy.net/allen/cint/51-02
http://www.brightcopy.net/allen/cint/51-01
http://www.brightcopy.net/allen/cint/50-04
http://www.brightcopy.net/allen/cint/50-3
http://www.brightcopy.net/allen/cint/50-2
http://www.brightcopy.net/allen/cint/50-1
http://www.brightcopy.net/allen/cint/49-4
http://www.brightcopy.net/allen/cint/49-3
http://www.brightcopy.net/allen/cint/may2016
http://www.brightcopy.net/allen/cint/february2016
http://www.brightcopy.net/allen/cint/november2015
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