Finance
Executive Summary
With growing concerns related to climate change, the farming profession is exposing the farmers to significant risk of low yields or other crop related failure. Moreover, with weather trend highly unpredictable, farmers always live under the cloud of high uncertainty relating to their livelihood.
Therefore, farmers are understanding the significance of crop insurance and how these contracts mitigate the risk factor associated with the farming profession. Important to note, American farmers have two insurance options: Multiple Peril Crop Insurance(MPCI) and Crop-Hail Insurance. While the MPCI is a federal crop insurance program and is run through public-private ...