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Farming can be risky. Floods and heat
waves wipe out crops, while climate change is increasing the variability
and severity of farm-threatening weather hazards. As research shows that
practices like cover cropping and rotating cash crops can reduce that
risk, agriculture insurers and lenders currently have no way to value
that risk mitigation. That’s where a team of agroecologists, economists,
and statisticians steps in.
This summer, the Foundation for Food and Agriculture Research and the US
Department of Agriculture awarded grants to BFI Co-Associate Faculty
Director Tim Bowles and his colleagues to create an actuarial model to
quantify that risk reduction to help bring that dollar value back to
farmers.
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