[Federal Register Volume 59, Number 96 (Thursday, May 19, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-12197]
[[Page Unknown]]
[Federal Register: May 19, 1994]
-----------------------------------------------------------------------
DEPARTMENT OF AGRICULTURE
Announcement of the Federal Crop Insurance Corporation's Pending
Evaluation of County Grain Sorghum Insurance Programs
AGENCY: Federal Crop Insurance Corporation, Agriculture.
ACTION: Notice of intent.
-----------------------------------------------------------------------
SUMMARY: The Federal Crop Insurance Corporation (FCIC) is announcing
intent to evaluate its grain sorghum program. This announcement
solicits public comment and suggestion for improvement and increased
participation in FCIC's grain sorghum program.
DATES: Submit written comments and suggestions by July 18, 1994 to
assure consideration.
ADDRESSES: Evaluation Division, Federal Crop Insurance Corporation,
P.O. Box 419293, Kansas City, MO 64141.
FOR FURTHER INFORMATION CONTACT:
Vondie W. O'Conner, Jr., Acting Director, telephone (816) 926-6343.
(Address is listed above).
SUPPLEMENTARY INFORMATION: The Federal Crop Insurance Corporation
conducts continuing evaluations of its insurance programs. Crop
evaluations provide valuable insight into how well programs are
operating, the extent to which they are serving the customer, the
quality of the customer service provided, the program strengths, the
program weaknesses, and program cost effectiveness. Evaluations provide
information necessary for FCIC to work for the continued improvement of
its crop insurance programs.
The Omnibus Budget Reconciliation Act of 1993 directed that FCIC
take necessary actions to improve the actuarial soundness of multiple
peril crop insurance and to achieve, on and after October 1, 1995, a
projected loss ratio not to exceed 1.10. Therefore, crop programs
experiencing high loss ratios and high net losses are priority programs
for FCIC to evaluate. For crop years 1989-1993, FCIC's grain sorghum
program experienced a loss ratio of 1.66 and a net loss (premium less
indemnity) of approximately $71,000,000.
The evaluation will include a review of actuarial and underwriting
performance; the accuracy of existing program dates (sales closing,
final planting, acreage reporting, and contract cancellation); the
effect of unit division and related rate impacts; the determination of
insurance coverage, an analysis of cause of loss, frequency and
severity of losses and other pertinent program factors. In addition,
loss adjustment procedure and training will be evaluated.
Done in Washington, DC on May 10, 1994.
Kenneth D. Ackerman,
Manager, Federal Crop Insurance Corporation.
[FR Doc. 94-12197 Filed 5-18-94; 8:45 am]
BILLING CODE 3410-08-M
