Since 1986 the federal crop insurance program has changed in several ways: the number of covered crops has increased dramatically; the number of insured acres and amount of total premiums have risen; and new styles of crop insurance policies have been introduced. Each change has had a significant impact on the cost of the program. Due to the increasing importance of crop insurance to agriculture's risk management strategy, the Food and Agricultural Policy Research Institute developed a baseline model for the federal crop insurance program. This report outlines the construction of the model, previews preliminary results, and offers ideas for possible extensions.
Hart, Chad E. and Smith, Darnell B., "The FAPRI Baseline Model of the Federal Crop Insurance Program" (1998). CARD Technical Reports. 36.