About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

RCED-84-120 1 (1984-03-16)

handle is hein.gao/gaobabnik0001 and id is 1 raw text is: t 23 16 UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON, D.C 20548 PESOURCES COMMUNITY AND ECONOMrC DEVELOPMENT DIVISION B-21 4525 RELEASED March 16, 1984 RESTrRICTIED , Rt 4 sd~th eea Accounting office ez.d heGnea by the Office Of OF Specific approval The Honorable Jesse Helms, Chairman The Honorable Roger Jepsen Committee on Agriculture, Nutrition, and Forestry United States Senate Subject: Information on the Federal Crop Insurance Program in North Carolina and Iowa (GAO/RCED-84-120) In your September 15, 1983, and October 26, 1983, letters and subsequent discussions with your offices, you asked that we obtain information on the Department of Agriculture's federal crop insur- ance program administered by the Federal Crop Insurance Corpora- tion (FCIC). Specifically, you asked us to obtain information on the program in North Carolina and Iowa regarding (1) producer participation, (2) the reasons why many producers are not buying crop insurance, (3) marketing activities, and (4) the program's actuarial soundness. In addition to the information specifically requested for North Carolina and Iowa, we have included general background information on FCIC's crop insurance program in enclosure I. In summary, we found that --Acres insured in North Carolina dropped from 17 percent of the total planted acres in 1982 to 12 percent in 1983 and in Iowa from 16 percent in 1982 to 11 percent in 1983. Program participation varied according to the crop. --Producers cited various reasons for not buying crop insurance including: the high cost of premiums, plans to cover their own losses, and low yield coverage. --FCIC spent S11.9 million to advertise the crop insurance program during fiscal years 1981 through 1983. A 1983 study of pre- and post-advertising awareness and attitudes toward federal crop insurance showed that producer aware- ness of the program was about the same before and after the 1983 advertising canpaign. --FCIC must maintain a loss ratio (relationship of indemni- ties paid to premiums received) of 1.0 or lower to remain L) Yq4 a%

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most