The inception of the Federal Crop Insurance Program dates back to 1938, when it was initiated as a risk protection mechanism following the dust bowl and unsuccessful attempts by the private industry to provide insurance to agricultural producers. Crop insurance as part of the U.S. Federal Government farm program started as a pilot program with limited crop and regional insurance coverage, low producer participation and high loss experience. After a phase of program experimentation and amendments intended to improve a costly program with low producer participation, the Federal Crop Insurance Act of 1980 introduced premium subsidies as well as new forms of policy coverage and insured crops.
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farm.unl.edu |
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155 |
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Website |