Crop Insurance Decisions for 2006
Several new types of crop insurance policies have been introduced in the last decade. Besides the traditional yield insurance, policies that guarantee a minimum level of gross revenue per acre are also available. Both yield and revenue assurance are available as group policies based on county yield results as well as for individual farm units. The various types of policies are summarized in Table l. Figures l and 2 illustrate the market share for each type of policy for insured corn and soybean acres in Iowa in 2005.