There is ample empirical evidence that traditional crop insurance does not attract high participation of producers without financial subsidies. In the U.S., for example, more than 60% of the total premiums paid by farmers are subsidized. In total, costs for the federal crop insurance program add up to $10 billion annually.
There is ample empirical evidence that traditional crop insurance does not attract high participation of producers without financial subsidies. In the U.S., for example, more than 60% of the total premiums paid by farmers are subsidized. In total, costs for the federal crop insurance program add up to $10 billion annually.
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