Crop Insurance Reform Hearing Before the Subcommittee On Agricultural Producti
Crop Insurance Reform Hearing Before the Subcommittee On Agricultural Producti
Nutrition United States Congress Senate Committee On Agri
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This type of benefit could provide current MPCI users with the same level of benefits they currently get through crop insurance and disaster pay- ments combined. The premiums for such supplemental are significantly more eco- nomical than the premium rates for 85-percent coverage. The current law gives FCIC the authority to approve supplemental and alter- native products for reinsurance, expense reimbursement, and. Premium subsidies. Along with the announcement of the administration's reform pro...posal, FCIC an- nounced it had finally used this authority to approve one supplemental product on a pilot basis for 1994. We commend FCIC for doing so and encourage this sub- 41 committee to encourage FCIC to be much more proactive in this arena. Without re- insurance from the Federal Government on supplemental products, they will not be made available on as wide a scale as is justified or needed. In its exercise of this authority, FCIC also needs to set some ground rules to insure the timely consider- ation, equitable terms, and widespread availability of alternative products.
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