The growth of the federal crop insurance program, 2010–22

Key Points:

• Two major trends have defined the federal crop insurance program over the past 12 years: the replacement of farm yield–based insurance with farm revenue–based products and the explosion of area- and index-based insurance for pasture, rangeland, and forage crops.
• Though still relatively small, enrollment in two relatively new products has grown over the past decade: supplemental insurance based on county yields designed to cover deductibles associated with farm yield–based policies and livestock insurance.
• Thus, enrolled acreage and total premiums for crop insurance hit record highs in 2022, with continued enrollment growth in area- and index-based policies expected in 2023.