This article focuses on innovation in weather insurance designed to fit the special circum-stances of the poor in lower income countries where rural and agricultural financial markets are largely underdeveloped. Index insurance is an innovation that circumvents many of the fundamental problems...

This paper presents a methodology for adding longer series of weather data to short series on Yield data for the purpose of Improving knowledge about crop Yield risk Findings demonstrate that the weather during the past 33 years provide Yield forecast with significantly less risk than the past...

U.S. farmers have for years relied on the financial support of both federally funded crop insurance and direct disaster assistance. Limits on availability of federal funds dictate that programs less costly to the government than disaster programs but more effective than past crop insurance...

A new crop insurance alternative will be available for eight major crops in 1994. This paper provides background on the development and potential for the new Group Risk Plan (GRP). The policy issues surrounding the Federal Crop Insurance Program are reviewed with an emphasis on the microlevel...

Crop insurance provides risk reduction benefits yet may increase planted acres in risky areas. This paper investigates the relationship between environmental quality and crop insurance induced changes in cropping pattern. Results suggest that yield risk and soil erosion are positively correlated...

The primary objective of this research is to integrate various avenues of risk management to provide a unified risk management strategy for the Kentucky producer. In addition the optimal insurance purchasing behavior and the impact of moral hazard on the optimal decisions of producers across...

The 1996 Farm Act and the 1994 Crop Insurance Reform Act are recent examples of policy changes that have increased risks for U.S. farmers. New products are emerging to help farmers manage risks. This article examines some of the policy changes, farmer responses, and new risk-sharing products....

This article compares risk reduction from MPCI and GRP crop insurance contracts. The analysis extends and improves on the existing area-yield insurance literature in four important respects. First, the geographical scope greatly exceeds that of previous work. Second, unlike previous efforts, the...

The scale of loss from natural disasters in low-income countries often exceeds the resources of internal and external sources of relief funding. Catastrophe bonds offer the opportunity to transfer the risk of low-probability, high-loss events to the capital market where there is greater capacity...

This article focuses on innovation in weather insurance designed to fit the special circum-stances of the poor in lower income countries where rural and agricultural financial markets are largely underdeveloped. Index insurance is an innovation that circumvents many of the fundamental problems...