Miranda and Glauber (1997) emphasized the need for agricultural risk to be an independent element amongst other insured elements, arguing that due to correlations among individual yields, crop insurers faced portfolio risks about ten times higher than that faced by private insurers offering conventional insurance (e.g. auto and fire insurance). On the contrary, the market for crop yield insurance that covers all yield risks is usually hard to develop without government support due to larger information asymmetries, its systemic nature and transaction cost. Under which conditions is crop yield insurance viable?