Crop Insurance: Further Actions Could Strengthen Program's Financial Soundness

Testimony issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO discussed the Department of Agriculture's (USDA) federal crop insurance program, focusing on whether USDA: (1) has set adequate insurance rates to achieve the legislative requirement of actuarial soundness; (2) appropriately reimburses participating crop insurance companies for their administrative costs; (3) can deliver catastrophic crop insurance at less cost to the government than private insurance companies; and (4) has established methodologies in the revenue insurance plans that set sound premium rates.