Portfolio Allocation and Alternative Structures of the Standard Reinsurance Agreement
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This paper analyzes effects of hypothetical changes in the Standard Reinsurance Agreement (SRA) on rates of return of private insurance companies participating in delivery of crop insurance. A computer simulation program is used to model companies' returns under the current and alternative SRA structures. A simple heuristic rule is used in order to simulate companies' behavior under counterfactual assumptions about the SRA structures.