Iowa Department of Commerce - Insurance Division, Agency Performance Plan

Annual Report, Agency Performance Plan

Northeast Iowa Schools Insurance Trust, June 30, 2001 & June 30, 2002

Other Audit Reports

Northeast Iowa Schools Insurance Trust, June 30, 2002 & June 30, 2003

Other Audit Reports

Investigation of the State Insurance Division's Oversight of Clinton Memorial Cemetery & Funeral Home, Inc, 1999

Investigative report produced by Iowa Citizens' Aide/Ombudsman

Employment and Wages Covered by Unemployment Insurance, Final County Data, Third Quarter, 2003

Third Quarterly County information for Census of Employment & Wages - County

Employment and Wages Covered by Unemployment Insurance, Final Statewide Data, Third Quarter, 2003

Third Quarterly County information for Census of Employment & Wage, Statewide

Employment and Wages Covered by Unemployment Insurance, Final County Data, Fourth Quarter, 2003

Fourth Quarterly County information for Census of Employment & Wage, County

Employment and Wages Covered by Unemployment Insurance, Final Statewide Data, Fourth Quarter, 2003

Fourth Quarterly County information for Census of Employment & Wage, Statewide

Influence of the Premium Subsidy on Farmers’ Crop Insurance Coverage Decisions, April 2005

The Agricultural Risk Protection Act greatly increased the expected marginal net benefit of farmers buying high-coverage crop insurance policies by coupling premium subsidies to coverage level. This policy change, combined with cross-sectional variations in expected marginal net benefits of high-coverage policies, is used to estimate the role that premium subsidies play in farmers’ crop insurance decisions. We use county data for corn, soybeans, and wheat to estimate regression equations that are then used to obtain insight into two policy scenarios. We first estimate that eventual adoption of actuarially fair incremental premiums, combined with current coupled subsidies, would increase farmers’ purchase of high-coverage policies by almost 400 percent from 1998 levels across the three crops and two plans of insurance included in the analysis. We then estimate that a return to decoupled subsidies would decrease farmers’ high-coverage purchase decisions by an average of 36 percent.

Northeast Iowa Schools Insurance Trust, Independent Auditor's Reports, Finacial Statement and Required Supplementary Information, Schedule of Findings, June 30, 2004

Other Audit Reports - 28E Organizations

Livestock Revenue Insurance, November 2000

This study outlines several possible structures for livestock revenue insurance. The policies take the form of an exotic option—an Asian basket option. The actuarially fair premiums for these policies are equal to the prices of the options they represent. Due to the complexity of pricing Asian basket options, we have combined two techniques for pricing options to reach the actuarially fair premiums. Projected premiums, producer welfare, and program efficiency are evaluated for the insurance products and existing market tools. Using efficiency ratios and certainty equivalent returns, we compare the insurance policies to strategies involving existing futures and options.

Department of Commerce Iowa Insurance Division Performance Report, FY 2004

Agency Performance Report from the Insurance Division

Northeast Iowa Schools Insurance Trust, Independent Auditor's Reports, Financial Statement and Required Supplementary Information, Schedule of Findings, June 30, 2005

Other Audit Reports - 28E Organizations

Report of the Recommendations to the Iowa Department of Workforce Development on a Review of Selected General and Application Controls Over the Unemployment Insurance System, May 1, 2006 to May 24, 2006

State Audit Reports

Get a GRIP: Should Area Revenue Coverage Be Offered through the Farm Bill or as a Crop Insurance Program? 2007

The successful expansion of the U.S. crop insurance program has not eliminated ad hoc disaster assistance. An alternative currently being explored by members of Congress and others in preparation of the 2007 farm bill is to simply remove the “ad hoc” part of disaster assistance programs by creating a standing program that would automatically funnel aid to hard-hit regions and crops. One form such a program could take can be found in the area yield and area revenue insurance programs currently offered by the U.S. crop insurance program. The Group Risk Plan (GRP) and Group Risk Income Protection (GRIP) programs automatically trigger payments when county yields or revenues, respectively, fall below a producer-elected coverage level. The per-acre taxpayer costs of offering GRIP in Indiana, Illinois, and Iowa for corn and soybeans through the crop insurance program are estimated. These results are used to determine the amount of area revenue coverage that could be offered to farmers as part of a standing farm bill disaster program. Approximately 55% of taxpayer support for GRIP flows to the crop insurance industry. A significant portion of this support comes in the form of net underwriting gains. The expected rate of return on money put at risk by private crop insurance companies under the current Standard Reinsurance Agreement is approximately 100%. Taking this industry support and adding in the taxpayer support for GRIP that flows to producers would fund a county target revenue program at the 93% coverage level.