94-21248. Announcement of the Federal Crop Insurance Corporation's Pending Evaluation of County Potato Insurance Programs  

  • [Federal Register Volume 59, Number 166 (Monday, August 29, 1994)]
    [Unknown Section]
    [Page 0]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 94-21248]
    
    
    [[Page Unknown]]
    
    [Federal Register: August 29, 1994]
    
    
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    DEPARTMENT OF AGRICULTURE
    Federal Crop Insurance Corporation
    
     
    
    Announcement of the Federal Crop Insurance Corporation's Pending 
    Evaluation of County Potato Insurance Programs
    
    AGENCY: Federal Crop Insurance Corporation, USDA.
    
    ACTION: Notice of intent.
    
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    SUMMARY: The Federal Crop Insurance Corporation (FCIC) herewith 
    announces intent to evaluation its potato program. Additionally, this 
    announcement solicits public comments and suggestions for improvement 
    and increased participation in FCIC's potato program.
    
    DATES: Submit written comments and suggestions by October 28, 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'Connor, 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's strengths, 
    weaknesses, and cost effectiveness. Evaluations provide information 
    necessary for FCIC to work toward 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 potato program 
    experienced a loss ratio of 2.00 and a net loss (premium less 
    indemnity) of approximately $57,000,000.
        The evaluation will include a review of actuarial and underwriting 
    performance; accuracy of existing program dates (sales closing, final 
    planting, acreage reporting, and contract cancellation); effect of unit 
    division and related rate impacts; 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 August 15, 1994.
    Kenneth D. Ackerman,
    Manager, Federal Crop Insurance Corporation.
    [FR Doc. 94-21248 Filed 8-26-94; 8:45 am]
    BILLING CODE 3410-08-M
    
    
    

Document Information

Published:
08/29/1994
Department:
Federal Crop Insurance Corporation
Entry Type:
Uncategorized Document
Action:
Notice of intent.
Document Number:
94-21248
Dates:
Submit written comments and suggestions by October 28, 1994 to assure consideration.
Pages:
0-0 (1 pages)
Docket Numbers:
Federal Register: August 29, 1994