Investigators at U.S. Department of Agriculture (USDA) Describe Findings in Crop Insurance (The Crop Insurance Demand Response To the Wildfire and Hurricane Indemnity Program Plus): Agriculture – Crop Insurance

Insurance Daily News

2022 AUG 12 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Current study results on Agriculture - Crop Insurance have been published. According to news reporting from Kansas City, Missouri, by NewsRx journalists, research stated, “Previous literature has suggested that ad hoc disaster aid can crowd out demand for residential flood insurance. However, this phenomenon remains relatively unexplored in the agriculture insurance sector.”

The news correspondents obtained a quote from the research from the U.S. Department of Agriculture (USDA), “In this paper, we focus on the most recent ad hoc disaster aid program for US agricultural producers, the Wildfire and Hurricane Indemnity Program Plus (WHIP+). Using county-level data on WHIP+ payments, we find support for the program crowding out demand for crop insurance.”

According to the news reporters, the research concluded: “However, we find the issue to be nuanced, noting that the demand response to WHIP + payments is subject to heterogeneity across several dimensions including commodity, insurance plan, and coverage level.”

This research has been peer-reviewed.

For more information on this research see: The Crop Insurance Demand Response To the Wildfire and Hurricane Indemnity Program Plus. Applied Economic Perspectives and Policy, 2022. Applied Economic Perspectives and Policy can be contacted at: Wiley, 111 River St, Hoboken 07030-5774, NJ, USA. (Oxford University Press - http://www.oup.com/; Applied Economic Perspectives and Policy - aepp.oxfordjournals.org)

Our news journalists report that additional information may be obtained by contacting Dylan Turner, USA. Dept. of Agriculture (USDA), Economic Research Service, 805 Penn Ave, Kansas City, MO 64105, United States.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1002/aepp.13314. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.