What does the SRA do? What does it mean for producers to have skin in the game in
crop insurance?
Give this one a try later!
Serves as the glue between FCIC and the insurance company, determines
the subsidy the producer receives and the possible company return.
Producers pay premium for coverage which puts skin in the game
, In 2011 Texas had a loss ratio of 2.5. Define what this number means. How is this loss
ratio of 2.5 a good thing for Texas farmers? Does this number I play that Texas farmers
made money in 2011?
Give this one a try later!
Loss ratio is indemnity divided by premium. A loss ratio of 2.5 means that
your indemnity is 2.5 times greater than your premium payment. This is a
good thing because that means they receive money back for the coverage,
it covers a percentage of the losses. It is not indicative of profitability.
Compare the "delaney clause" and the Food Quality Protection Act of 1996. How are
they similar and how are they different? Why was the transition from one to the other,
necessary?
Give this one a try later!
Both the delaney clause and the food Quality Protection Act of 1996 had
intentions to provide a safe food supply by measuring harmful substances
in food. The differences are that the delaney clause has zero tolerance and
became inoperable due to technology advancement and FQPA relies on
reasonable level of harm and is still functioning.
What are the repercussions to the crop insurance industry when ad hoc disaster
assistance is provided to producers? Would it matter if the assistance was for
disasters not covered by crop insurance? Why?
Give this one a try later!
Ad hoc and crop insurance are separated industries that directly impact
each other. Ad hoc undermines crop insurance by leading people to
believe they could receive assistance without actually paying premiums
crop insurance?
Give this one a try later!
Serves as the glue between FCIC and the insurance company, determines
the subsidy the producer receives and the possible company return.
Producers pay premium for coverage which puts skin in the game
, In 2011 Texas had a loss ratio of 2.5. Define what this number means. How is this loss
ratio of 2.5 a good thing for Texas farmers? Does this number I play that Texas farmers
made money in 2011?
Give this one a try later!
Loss ratio is indemnity divided by premium. A loss ratio of 2.5 means that
your indemnity is 2.5 times greater than your premium payment. This is a
good thing because that means they receive money back for the coverage,
it covers a percentage of the losses. It is not indicative of profitability.
Compare the "delaney clause" and the Food Quality Protection Act of 1996. How are
they similar and how are they different? Why was the transition from one to the other,
necessary?
Give this one a try later!
Both the delaney clause and the food Quality Protection Act of 1996 had
intentions to provide a safe food supply by measuring harmful substances
in food. The differences are that the delaney clause has zero tolerance and
became inoperable due to technology advancement and FQPA relies on
reasonable level of harm and is still functioning.
What are the repercussions to the crop insurance industry when ad hoc disaster
assistance is provided to producers? Would it matter if the assistance was for
disasters not covered by crop insurance? Why?
Give this one a try later!
Ad hoc and crop insurance are separated industries that directly impact
each other. Ad hoc undermines crop insurance by leading people to
believe they could receive assistance without actually paying premiums
