W<scp>hole</scp> F<scp>arm</scp> I<scp>ncome</scp> I<scp>nsurance</scp>

Turvey, Calum G.

doi:10.1111/j.1539-6975.2011.01426.x

Cited by 58 publications

(55 citation statements)

References 26 publications

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“…The analysis does not account for the feedback effect of the income stabilisation mutual fund on the choice of the farm activities, which in turn may affect the cost of the mutual fund [28]. Variability in farm net incomes may also increase further in the future as a result of the deregulation of the sector, in particular in the dairy and sugar sub-sectors.…”

Section: Discussionmentioning

confidence: 98%

Evaluation of the EU proposed farm income stabilisation tool by skew normal linear mixed models

2014

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The European Commission has introduced new risk management tools in the rural development pillar 2 of the Common Agricultural Policy. One of them consists in providing co-financing support to mutual funds compensating farmers who experience a severe drop in their income. This paper analyses this income stabilisation tool for a region in Belgium by means of a skew normal linear mixed model. Relying on the farm accountancy data network, this analysis focuses on estimating the probability that such a fund would need to intervene and, in that case, the expected amount of each farm income compensation. The predictive distribution of future incomes given past revenues trajectory is derived and used for evaluation purposes. Particular attention is paid to additional requirements that could be imposed to the income stabilisation tool.

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Section: Discussionmentioning

confidence: 98%

Evaluation of the EU proposed farm income stabilisation tool by skew normal linear mixed models

2014

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“…3 Notable exceptions are Turvey et al (1995), Mussell and Martin (2005), Schaufele et al (2010), and Turvey (2012). 3 Notable exceptions are Turvey et al (1995), Mussell and Martin (2005), Schaufele et al (2010), and Turvey (2012).…”

Section: Introductionmentioning

confidence: 99%

Transfer Efficiency Analysis of Margin‐Based Programs

Rude

Ker

2013

Canadian J Agri Economics

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AgriStability, Canada's major farm support and business risk management program, has been in place since 2007. As with most agricultural insurance programs, AgriStability creates opposing incentives where moral hazard and misallocation effects discourage production while the risk reduction effects encourage production. We investigate the relative size of these effects to determine both the degree to which production is distorted and the percentage of government transfer that remains with the producer. Our results indicate mild but differential effects across crops. We find roughly 45% of program payments remains with primary producers. These findings are of particular interest because of their World Trade Organization implications.Agri-stabilité, le plus important programme de soutien et de gestion des risques de l'entreprise (GRE) au Canada, est en place depuis 2007. Agri-stabilité, comme la plupart des programmes de soutien, crée des incitatifs opposés où le risque moral et une mauvaise allocation des intrants découragent la production tandis qu'une réduction des risques la stimule. Dans la présenteétude, nous avons examiné l'importance relative de ceséléments afin de déterminerà la fois le degré de distorsion de la production et le pourcentage des paiements de transfert qui profite au producteur. Les résultats de notreétude indiquent des effets modérés mais différentiels, et ce, toutes récoltes confondues. Ils indiquent aussi que près de 45 p. 100 des paiements de transfert sont versésà des producteurs primaires. Ces résultats sont particulièrement intéressants en raison de l'analyse qu'en fera l'OMC.

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“…The underlying principle of whole farm insurance is to pool all the insurable risks of a farm into a single policy. In the WFI the insurer and the insured must balance a large number of random variables including yield risk, price risk, and their correlations (Turvey, 2012). Since most crop risks do not perfectly covariate, WFI provides a more efficient coverage than insuring each crop with a specific policy.…”

Section: Introductionmentioning

confidence: 99%

Designing a whole-farm revenue insurance for agricultural crops in Zanjan province of Iran

Ghahremanzadeh

Mohammadrezaei

Dashti

et al. 2018

EARN

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ABSTRACT:The purpose of this article is to design and empirically evaluate the Whole Farm Insurance (WFI) over the conventional insurance programs in Zanjan province of Iran. Historical farm-level and county-level data were used to estimate yield and price density functions. Both parametric and nonparametric methods were applied for predicting the future values and the PQH simulation method was utilized to calculate premium rates. Results revealed that loss ratios of the WFI are lower for farmers who insured more than one crop. Additionally, utilizing WFI reduces premiums. Moreover, premiums obtained from nonparametric method are relatively lower compared to the parametric approach.KEYWORDS: Indemnity, Iran, price risk, whole-farm insurance, yield risk, Zanjan.Diseño de un seguro de ingresos de toda la granja para cultivos agrícolas en la provincia de Zanjan de Irán RESUMEN: El propósito de este artículo es diseñar y evaluar empíricamente el Seguro Agrario Integral (SAI) con respecto a los programas de seguros convencionales en la provincia de Zanjan de Irán. Se usaron datos históricos a nivel de explotación y de comarca para estimar las funciones de rendimiento y de densidad de precios. Se aplicaron métodos paramétricos y no paramétricos para predecir los valores futuros y se utilizó el método de simulación SAI para calcular las tasas de primas. Los resultados revelaron que los índices de pérdida del SAI son más bajos para los agricultores que aseguraron más de un cultivo. Además, la utilización del SAI reduce las primas. Las primas obtenidas del método no paramétrico son relativamente más bajas en comparación con el enfoque paramétrico.PALABRAS CLAVE: Indemnización, Irán, riesgo de precio, seguro de granja completa, riesgo de rendimiento, Zanjan.JEL classification/Clasificación JEL: G22, C15, C53, C63.

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Whole Farm Income Insurance

Cited by 58 publications

References 26 publications

Evaluation of the EU proposed farm income stabilisation tool by skew normal linear mixed models

Evaluation of the EU proposed farm income stabilisation tool by skew normal linear mixed models

Transfer Efficiency Analysis of Margin‐Based Programs

Designing a whole-farm revenue insurance for agricultural crops in Zanjan province of Iran

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