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Crop Insurance Coverage
Crop insurance is insurance purchased by agricultural producers and subsidized by a country's government to protect against either the loss of their crops due to natural disasters, such as hail, drought, and floods ("crop-yield insurance"), or the loss of revenue due to declines in the prices of agricultural commodities ("crop-revenue insurance"). United States In the United States, the federal government subsidizes an average of 62 percent of the premium. In 2019, crop insurance policies covered almost 380 million acres. Major crops are insurable in most counties where they are grown, and about 90% of U.S. crop acreage is insured under the federal crop insurance program. Four crops—corn, cotton, soybeans, and wheat—typically account for more than 70% of total enrolled acres. For these major crops, a large share of plantings is covered by crop insurance. In the United States, a subsidized multi-peril federal insurance program, administered by the Risk Management Agency, is a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agriculture Insurance Company Of India
Agriculture Insurance Company of India Limited (AIC) is an Indian public sector undertaking headquartered in New Delhi. It is a government-owned agricultural insurer under ownership of the Ministry of Finance, Government of India. History AIC was incorporated on 20 December 2002 with an authorized capital of Rs. 1500 crore. The initial paid-up capital was Rs. 200 crores, which was subscribed by the promoting companies, General Insurance Corporation of India GIC (35%), NABARD (30%) and the four public-sector general insurance companies (8.75%) each, viz., National Insurance National Insurance (NI) is a fundamental component of the welfare state in the United Kingdom. It acts as a form of social security, since payment of NI contributions establishes entitlement to certain state benefits for workers and their famil ... Co. Ltd., Oriental Insurance Co. Ltd., New India Assurance Co. Ltd., and United India Insurance Co. Ltd. AIC is under the administrative control of Min ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agricultural Insurance
Crop insurance is insurance purchased by agricultural producers and subsidized by a country's government to protect against either the loss of their crops due to natural disasters, such as hail, drought, and floods ("crop-yield insurance"), or the loss of revenue due to declines in the prices of agricultural commodities ("crop-revenue insurance"). United States In the United States, the federal government subsidizes an average of 62 percent of the premium. In 2019, crop insurance policies covered almost 380 million acres. Major crops are insurable in most counties where they are grown, and about 90% of U.S. crop acreage is insured under the federal crop insurance program. Four crops—corn, cotton, soybeans, and wheat—typically account for more than 70% of total enrolled acres. For these major crops, a large share of plantings is covered by crop insurance. In the United States, a subsidized multi-peril federal insurance program, administered by the Risk Management Agency, is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Weather Insurance
Weather insurance insures against weather variations. There are two insurable types of weather insurance: conditional weather insurance and weather cancellation insurance. The integration of advanced technologies such as AI in the insurance industry is influencing the field of weather insurance. According to a recent industry report, these technologies facilitate the analysis of large datasets, leading to improved predictions of weather patterns. This advancement is important for weather insurance, as it aids in refining risk assessments and pricing models. Weather cancellation insurance Weather cancellation insurance reduces an organization’s risk in planning an outdoor event. When a company or organization is holding a concert, running a special event, having a sale, or executing any form of outdoor activity and the weather prevents that activity from taking place, the organization risks losing whatever money that has been invested in the planning, organization, marketi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hail Cannon
A hail cannon is a shock wave generator claimed to disrupt the formation of hailstones in the atmosphere. These devices frequently engender conflict between farmers and neighbors when used, because they are loudly and repeatedly fired every 1 to 10 seconds while a storm is approaching and until it has passed through the area, yet there is no scientific evidence for their effectiveness. Historical use In the French wine-growing regions, church-bells were traditionally rung in the face of oncoming storms and later replaced by firing rockets or cannons. Modern systems A mixture of acetylene and oxygen is ignited in the lower chamber of the machine. As the resulting blast passes through the neck and into the cone, it develops into a shock wave. This shock wave then travels through the cloud formations above, a disturbance which manufacturers claim disrupts the growth phase of hailstones. Manufacturers claim that what would otherwise have fallen as hailstones then falls as slus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Group Risk Protection
Group Risk Protection (GRP) is a form of crop insurance available in certain parts of the United States. GRP makes an indemnity payment to all participating crop farmers when the entire county's crop production is a certain percentage below the normal production level of the county. This differs from the basic crop insurance program that makes payments to participating farmers when the individual farmer's own crop yield In agriculture, the yield is a measurement of the amount of a crop grown, or product such as wool, meat or milk produced, per unit area of land. The seed ratio is another way of calculating yields. Innovations, such as the use of fertilizer, the ... is less than the producer's normal yield. References {{CRS, article = Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition, url = http://ncseonline.org/nle/crsreports/05jun/97-905.pdf, author= Jasper Womach United States Department of Agriculture programs Agricultural subsidies ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Index-based Insurance
Index-based insurance, also known as index-linked insurance, weather-index insurance or, simply, index insurance, is primarily used in agriculture. Because of the high cost of assessing losses, traditional insurance based on paying indemnities for actual losses incurred is usually not viable, particularly for smallholders in developing countries. With index-based insurance, payouts are related to an “index” that is closely correlated to agricultural production losses, such as one based on rainfall, yield or vegetation levels (e.g. pasture for livestock). Payouts are made when the index exceeds a certain threshold, often referred to as a “trigger”. By making payouts according to an index instead of individual claims, providers can circumvent the transaction costs associated with claims assessments. Index-based insurance is therefore not designed to protect farmers against every peril, but only where there is a widespread risk that significantly influences a farmer’s liveli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Buy-up Coverage
Buy-up coverage is the portion of crop insurance Crop insurance is insurance purchased by agricultural producers and subsidized by a country's government to protect against either the loss of their crops Failed acreage, due to natural disasters, such as hail, drought, and floods ("crop-yield ins ... coverage for which a participating farmer in the US pays a premium. During the 2000s, the system offered catastrophic (CAT) crop insurance coverage without any premium payments required of the farmer. Any coverage purchased above the CAT level was referred to as buy-up coverage, and was partially subsidized by the US federal government. The Agricultural Act of 2014 adjusted buy-up coverage limits and premium payments, along with buyers' costs, as part of a shift away from direct subsidies. References * {{DEFAULTSORT:Buy-Up Coverage Agriculture in the United States ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Weather Based Crop Insurance
Weather is the state of the atmosphere, describing for example the degree to which it is hot or cold, wet or dry, calm or stormy, clear or cloudy. On Earth, most weather phenomena occur in the lowest layer of the planet's atmosphere, the troposphere, just below the stratosphere. Weather refers to day-to-day temperature, precipitation, and other atmospheric conditions, whereas climate is the term for the averaging of atmospheric conditions over longer periods of time. When used without qualification, "weather" is generally understood to mean the weather of Earth. Weather is driven by air pressure, temperature, and moisture differences between one place and another. These differences can occur due to the Sun's angle at any particular spot, which varies with latitude. The strong temperature contrast between polar and tropical air gives rise to the largest scale atmospheric circulations: the Hadley cell, the Ferrel cell, the polar cell, and the jet stream. Weather systems in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Modified National Agriculture Insurance Scheme
Modified may refer to: * ''Modified'' (album), the second full-length album by Save Ferris *Modified racing, or "Modifieds", an American automobile racing genre See also * Modification (other) Modification may refer to: * Modifications of school work for students with special educational needs * Modifications (genetics), changes in appearance arising from changes in the environment * Posttranslational modifications, changes to prote ... * Modifier (other) {{disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Agricultural Insurance Scheme
National may refer to: Common uses * Nation or country ** Nationality – a ''national'' is a person who is subject to a nation, regardless of whether the person has full rights as a citizen Places in the United States * National, Maryland, census-designated place * National, Nevada, ghost town * National, Utah, ghost town * National, West Virginia, unincorporated community Commerce * National (brand), a brand name of electronic goods from Panasonic * National Benzole (or simply known as National), former petrol station chain in the UK, merged with BP * National Book Store, a bookstore and office supplies chain in the Philippines * National Car Rental, an American rental car company * National Energy Systems, a former name of Eco Marine Power * National Entertainment Commission, a former name of the Media Rating Council * National Motor Vehicle Company, Indianapolis, Indiana, USA 1900–1924 * National Radio Company, Malden, Massachusetts, USA 1914–1991 * National Su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
