Insurance as a tool of protection for growing crops against various natural and social perils. Crop insurance may be according to perils insured viz., (i) single peril insurance e.g., Hail insurance, (ii) named peril insurance e.g., up to four perils are covered, (iii) multi-peril insurance e.g., at least five or more perils are covered and (iv) all perils insurance e.g., covers all natural and non-preventable perils. According to object insured it can be (i) single crop insurance covering a single crop e.g., apple insurance against hail and frost or (ii) Multiple crop insurance e.g., a single scheme covers a host of crops like Comprehensive Crop Insurance Scheme (CCIS) and National Agricultural Insurance Scheme (NAIS).
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Insurance covering growing crops against hail, wind, and fire. Protection against a broader range of perils can often be arranged as well. Crop insurance can be provided by private insurance companies or the Federal government through the Federal Crop Insurance Corporation (FCIC) which is administered by the Risk Management Agency (RMA).
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UK: Insurance effected by farmers against failure or reduction in output of a crop due to a specified peril (e.g. hailstorm) or a wider range of perils (e.g. adverse weather conditions).
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There are two kinds of crop insurance. One is known as “crop hail” and the other is known as “crop multiple peril.”