tag:blogger.com,1999:blog-10238534.post6244566111311019787..comments2023-11-05T04:35:19.263-05:00Comments on Faceless Bureaucrat: Implementing Payment Limitation on Crop InsuranceBill Harshawhttp://www.blogger.com/profile/02094598931693185805noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-10238534.post-30629992306070112442012-04-25T14:49:53.825-04:002012-04-25T14:49:53.825-04:00Good point. I should read the GAO report to see h...Good point. I should read the GAO report to see how they visualized the limitation working. I suppose you could cap the liability at $1 million, or whatever, just as insurance for auto or home owners is capped. Or try this: if the maximum liability per acre is $500, cap the acreage coverage at 2000 acres, if you're going for a cap of $1 mill? So if there was a loss of production on 5,000 acres in the county, the indemnity payment would be the smaller of the two? <br /><br />Then how do you handle multi-county operations.Bill Harshawhttps://www.blogger.com/profile/02094598931693185805noreply@blogger.comtag:blogger.com,1999:blog-10238534.post-39531763765863345512012-04-23T09:19:10.062-04:002012-04-23T09:19:10.062-04:00As the premium is a percentage of the total liabil...As the premium is a percentage of the total liability and private insurance companies receive a percentage of the liability as subsidy, there would be no incentive to carry any dollar amount of insurance much higher than the payment limit. How much of a loss would a 10 million plus nursery in Florida be compensated for? The insurance company could kiss off the 1 million plus premium it collects today.Anonymousnoreply@blogger.com