Actuarial Impacts of Loss Cost Ratio Ratemaking in U.S. Crop Insurance Programs

Actuarial Impacts of Loss Cost Ratio Ratemaking in U.S. Crop Insurance Programs

This study examines the actuarial implications of the loss cost ratio (LCR) ratemaking methodology employed by the Risk Management Agency as a component of base rates for U.S. crop insurance programs, and identifies specific conditions required for the LCR methodology to result in unbiased rates whe...

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Bibliographic Details
Main Authors: Joshua D. Woodard, Bruce J. Sherrick, Gary D. Schnitkey
Format: Article
Language:English
Published: Western Agricultural Economics Association 2011-04-01
Series:Journal of Agricultural and Resource Economics
Subjects:
actuarial fairness
crop insurance
insurance rating
loss cost ratio
risk growth
risk management agency
yield trends
Online Access:https://ageconsearch.umn.edu/record/105550

Internet

https://ageconsearch.umn.edu/record/105550

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