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System and method for rating and structuring bands of crop production insurance

  • US 20030061075A1
  • Filed: 05/17/2002
  • Published: 03/27/2003
  • Est. Priority Date: 05/17/2001
  • Status: Abandoned Application
First Claim
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1. A method of calculating an insurance premium for a producer based on an insured value, the method comprising:

  • defining a band of coverage having an upper and a lower limit;

    determining an expected yield for the band of coverage;

    simulating an expected loss for the band of coverage based on the expected yield; and

    calculating the insurance premium based on the expected loss and the insured value.

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