Crop Insurance: Further Actions Could Strengthen Program's Financial Soundness.211 Statement of Lawrence J. Dyckman, Director, Food and Agriculture Issues, 211 Resources, Community and Economic Development Division

摘要

Because of the program's rapid expansion and its significant financial costs to211u001ethe government, we have been asked to examine various aspects of the crop 211u001einsurance program. Our testimony today focuses on our work examining whether USDA 211u001e(1) has set adequate insurance rates to achieve the legislative requirement of 211u001eactuarial soundness, (2) appropriately reimburses participating crop insurance 211u001ecompanies for their administrative costs, (3) can deliver catastrophic crop 211u001einsurance at less cost to the government than private insurance companies, and 211u001e(4) has established methodologies in the revenue insurance plans that set sound 211u001epremium rates.