Crop Insurance in the 2018/2019 Farm Bill
G.A. “Art” Barnaby
Discussion on the 2019 Farm Bill will likely focus on crop insurance. Reform efforts will continue and as always agricultural economists will be evaluating alternative proposals and what they mean for producers' risk management strategies including their willingness to purchase coverage, individual commodities, and budget implications for taxpayers.
G.A. “Art” Barnaby and Levi A. Russell
Discussion on the next Farm Bill will likely focus on crop insurance. Critics of crop insurance have suggested several changes, up to complete elimination of the program. We discuss economic and political factors associated with changes to crop insurance and conclude that reform efforts will continue but with meager success.
Thomas P. Zacharias and Mechel S. Paggi
As issues evolve and the agricultural sector gains experience with the current farm safety net, the key considerations that will need to be evaluated as part of the upcoming farm bill process of reforming and improving upon the U.S. crop insurance farm safety net are emerging.
Mechel S. Paggi
Federal crop insurance is most often associated with wheat, corn, and soybeans. Specialty crop producers have increasingly utilized crop insurance to help manage risk. Providing these producers with a risk management safety net will likely continue to be a farm policy priority.
Joshua D. Woodard
Agricultural insurance programs now comprise the primary farm safety net in the United States. Previous studies on agriculture insurance demand tend to find price inelastic demand responses; however, recent research suggests more complex relationships among demand metrics than previously thought, as well as findings of more elastic demand.