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A Comparison of the Great Mississippi River Floods of 1993 and 2011: Implications for Crop Insurance and Reinsurance 31
Vergara, Oscar.
The flooding situation in 2011 is similar in nature to the Great Mississippi Flood of 1993, but different in the particulars. First, the timing of the flood within the growing season is different. Second, the two floods occurred in different regions, with the 1993 flood affecting a portion of the Corn Belt and the 2011 flood affecting a region farther south. While floodwaters have inundated several million acres of cropland in 2011, yield losses from delayed planting are expected to be limited. Furthermore, the affected states from the current flood are primarily Group 2 states under the current SRA, which are provided with greater reinsurance protection by the government than the Group 1 states.
Tipo: Report Palavras-chave: Great Mississippi Flood; 1993; 2011; SRA; Crop Insurance Losses; AIR Model; Crop Production/Industries; Risk and Uncertainty; C; Q.
Ano: 2011 URL: http://purl.umn.edu/104897
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Impact of the New Standard Reinsurance Agreement (SRA) on Multi-Peril Crop Insurance (MPCI) Gain and Loss Probabilities 31
Vergara, Oscar; Seaquist, Jack; Zuba, Gerhard; Harrigan, Matthew; Lee, Eric.
We utilize an agricultural model that uses crop/weather relationships at the county resolution and fits robust distributions that take into account the impact that weather has on crop production. Once the crop insurance policy conditions and prices are applied to the modeled county yield distributions, the portfolio gain and losses can be calculated by aggregating the gain and losses at the county level, state level, regional level and nationwide level. Portfolio losses are computed under the old and new SRA rules and regulations for comparison purposes.
Tipo: Conference Paper or Presentation Palavras-chave: SRA; MPCI; Crop insurance; Stochastic model; Weather peril; Probabilities; Crop Production/Industries; Research and Development/Tech Change/Emerging Technologies; Risk and Uncertainty; C; Q.
Ano: 2011 URL: http://purl.umn.edu/103282
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