Crop Insurance: Additional Actions Could Further Improve Program's Financial Soundness
T-RCED-99-123
Published: Mar 17, 1999. Publicly Released: Mar 17, 1999.
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Highlights
Pursuant to a congressional request, GAO discussed the Department of Agriculture's (USDA) crop insurance program, focusing on whether USDA: (1) has set adequate insurance rates to achieve the legislative requirement of actuarial soundness; (2) appropriately reimburses participating crop insurance companies for their administrative costs; and (3) has established methodologies in the revenue insurance plans that set sound premium rates.
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Administrative costsAgricultural productionFarm income stabilization programsFinancial managementFloodsGrain and grain productsHurricanesInsurance companiesInsurance cost controlInsurance premiumsNatural disastersCrop insurance