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- W2152948702 abstract "The Agricultural Conservation Innovation Center submitted a Nutrient Management/Best Management Practices Insurance policy under section 508(h) of the Federal Crop Insurance Act to the Federal Crop Insurance Corporation (FCIC) Board of Directors. After review by several agricultural economists and actuaries, the FCIC Board authorized implementation of a Nutrient Management/Best Management Practice Insurance Endorsement pilot with reinsurance, risk subsidy, and administrative and operating subsidy beginning in 2003 for Iowa, Minnesota, Pennsylvania, and Wisconsin. This technical report documents the rating methodology used to determine premiums for this Nutrient Management/Best Management Practices Insurance. The FCIC Board reviewers and Dr. David Anderson have read the methodology and have suggested several useful improvements. However, the intent of this report is to document the method as originally submitted. Suggested improvements will be incorporated in later updates of the premiums. Nutrient Management/Best Management Practices Insurance reduces the risk of yield loss as an impediment to adoption of nutrient management best management practices (BMPs). With this insurance, farmers who adopt approved practices receive compensation for yield losses due to BMP failure. The policy requires farmers to plant a check strip that receives the nutrient application associated with the non-BMP practice, while the rest of the field receives the nutrient BMP application. Indemnities are paid when the check strip yield sufficiently exceeds the yield on the remainder of the field." @default.
- W2152948702 created "2016-06-24" @default.
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- W2152948702 date "2002-01-01" @default.
- W2152948702 modified "2023-09-26" @default.
- W2152948702 title "RATING METHODOLOGY FOR NUTRIENT MANAGEMENT/BEST MANAGEMENT PRACTICE INSURANCE" @default.
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