Crop Insurance

Business, Legal & Accounting Glossary

Definition: Crop Insurance


Quick Summary of Crop Insurance


A contract of indemnity by which, for a specified premium, one party promises to compensate another for the financial loss incurred by the destruction of agricultural products from the forces of nature, such as rain, hail, frost, or insect infestation.




Full Definition of Crop Insurance


The federal government, acting through the Federal Crop Insurance Corporation, an agency of the DEPARTMENT OF AGRICULTURE, sponsors such insurance. By improving the economic stability of agriculture, crop insurance promotes the welfare of the nation.


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Crop Insurance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/crop-insurance/ (accessed: October 16, 2021).
American Psychological Association (APA):
Crop Insurance. PayrollHeaven.com. Retrieved October 16, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/crop-insurance/

Definition Sources


Definitions for Crop Insurance are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 9th October, 2021 | 0 Views.