108 STAT. 3190 PUBLIC LAW 103-354—OCT. 13, 1994 "(ii) include an amoiint for operating and adrnimstrative expenses, as determined by the Corporation. "(C) In the case of additional coverage equal to or greater than 65 percent of the recorded or appraised average jdeld indemnified at 100 percent of the expected market price, or an equivalent coverage, the amount of the premium shall— "(i) be sufficient to cover anticipated losses and a reasonable reserve; and "(ii) include an amount for operating and administrative expenses, as determiriea by the Corporation, on an industry-wide basis as a percentage of the amount of the premium used to define loss ratio. "(e) PAYMENT OF PORTION OF PREMIUM BY CORPORATION. — "(1) IN GENERAL.— For the piupose of encouraging the broadest possible participation of producers in the catastrophic risk protection provided under subsection (b) and the additional coverage provided under subsection (c), the Corporation shall pay a part of the premium in the amounts provided in accordsince with this subsection. "(2) AMOUNT OF PAYMENT. —The amount of the premium to be paid by the Corporation shall be as follows: "(A) In the case of catastrophic risk protection, the amount shall be equivalent to the premium established for catastrophic risk protection under subsection (d)(2)(A). "(B) In the case of coverage below 65 percent of the recorded or appraised average yield indemnified at 100 percent of the expected market price, or an equivalent coverage, but greater than 50 percent of the recorded or appraised average yield indemmfied at 100 percent of the expected market price, or an equivalent coverage, the Eimount shall be equivalent to the amount of premium established for catastrophic risk protection coverage and the amount of operating and admuustrative expenses established under subsection (d)(2)(B). "(C) In the case of coverage equal to or greater than 65 percent of the recorded or appraised average jdeld indemnified at 100 percent of the expected market price, or an equivalent coverage, on an individual or area basis, the amount shall be equivalent to an amount equal to the premium established for 50 percent loss in yield indemnified at 75 percent of the expected market price and the amount of operating and admuustrative expenses established under subsection (d)(2)(C). "(3) PREMIUM REDUCTION. — If an approved insurance provider determines that the provider may provide insurance more efficientiy than the expense reimbursement amount established by the Corporation, the approved insurance provider may reduce, subject to the approval of the Corporation, the premium charged the insured by an amount corresponding to the efficiency. The approved insurance provider shall apply to the Corporation for authority to reduce the premium before making such a reduction, and the reduction shall be subiect to the rules, limitations, and procedures establishea by the Corporation. "(4) INDIVIDUAL AND AREA CROP INSURANCE COVERAGE. — The Corporation shall allow approved insurance providers to
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