[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
