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Crop Insurance Basics: Moral Hazard

Moral hazard is a phrase commonly used in the business community that simply means people act or perform differently when they are fully insulated from risk. An entry on the topic in Investopedia.com explained it like this: We encounter moral hazard every day – tenured professors becoming indifferent lecturers, people with theft insurance being less […]

Crop Insurance Basics: Risk Mitigation and Risk Management

Risk mitigation and risk management are two sides of the same coin when it comes to improving agricultural outcomes and promoting climate-smart decisions. On the front of the coin, we have risk mitigation. This side represents all the steps farmers and ranchers take to reduce the amount of risk they face. For example, farmers utilizing […]