Crop Insurance Reform Hearing Before the Subcommittee On Agricultural Producti

Cover Crop Insurance Reform Hearing Before the Subcommittee On Agricultural Producti
Crop Insurance Reform Hearing Before the Subcommittee On Agricultural Producti
Nutrition United States Congress Senate Committee On Agri
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This type of benefit could provide current MPCI users with the same level of benefits they currently get through crop insurance and disaster pay- ments combined. The premiums for such supplemental are significantly more eco- nomical than the premium rates for 85-percent coverage.
The current law gives FCIC the authority to approve supplemental and alter- native products for reinsurance, expense reimbursement, and. Premium subsidies. Along with the announcement of the administration's reform pro
...posal, FCIC an- nounced it had finally used this authority to approve one supplemental product on a pilot basis for 1994. We commend FCIC for doing so and encourage this sub- 41 committee to encourage FCIC to be much more proactive in this arena. Without re- insurance from the Federal Government on supplemental products, they will not be made available on as wide a scale as is justified or needed. In its exercise of this authority, FCIC also needs to set some ground rules to insure the timely consider- ation, equitable terms, and widespread availability of alternative products.

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