NCIS Responds to American Enterprise Institute
The American Enterprise Institute (AEI) released a paper in September 2012 claiming potential costs of $20 billion per year for the Price Loss Coverage (PLC) and Supplemental Coverage Option (SCO) programs in the Congressional 2012 Farm Bill proposals. The release is apparently intended to create alarm over potentially high costs of future farm policy. Unfortunately, […]
Crop Insurance Payments Not a ‘Bailout’ for Farmers
Farm income is forecast to increase over last year, helped by insurance payouts from the crop-insurance program covering losses from the disastrous drought in much of the country, but a insurance associations argue that the program is not a “bailout” that guarantees profits for farmers. The 2012 Farm Sector Income Forecast from the United States […]
Drought Update – September 4, 2012
The continental United States is parched, with 63% of the lower 48 states experiencing moderate to exceptional drought, according to the August 28 U.S. Drought Monitor. Crop insurance is helping farmers pick up the pieces. So far in 2012: • Farmers have invested more than $4 billion to purchase more than 1.2 million crop insurance […]
Iowa Corn Farmers Face Two Straight Years of Disaster
Oklahoma is wheat country. Iowa is corn country. What farmers in the two states have in common is weather-related disasters — consecutive years of cropland devastation. Recent rains and cooler temperatures notwithstanding, farm belt states are suffering. The 2012 winter wheat harvest in Oklahoma came before the summer meltdown; corn farmers in Iowa aren’t so […]
Crop Insurance Helps An Iowa Farmer Plant Another Day After 2011 Floods
There are few places in the country that personify the radical whims of Mother Nature as well as the state of Iowa. Last year, Iowa and much of the upper Midwest suffered under record flooding when major rivers left their banks. This year, Iowa farmers are facing one of the worst droughts in decades. The […]
Crop insurance will cover massive losses
In spite of the depth and far-reaching impact of the drought that has gripped more than half of the nation’s agricultural production area this summer, farmers should have no worries regarding their crop insurance policy’s ability to pay. “The crop insurance industry is on the ground in the drought-stricken areas, mobilizing loss-adjuster teams,” says Thomas […]
Crop Failed? There’s Insurance for That
Tess Vigeland: Congress left for its summer vacation without coming up with a drought relief package for farmers and ranchers. But that doesn’t mean they’re all left high and dry. A lot of farmers are going to get help from crop insurance. And that could put a crimp in the bottom line of insurance companies […]
Drought May Cost $20 Billion in Crop Insurance
WASHINGTON (CNNMoney) — As the drought continues to ravage the nation’s corn, wheat and soybean fields, crop insurance losses are expected to break records. With nearly half of the continental United States under severe drought conditions, crop insurance losses are mounting daily, according to a report from the National Drought Mitigation Center at the University […]
Plowed Under ‐ Redux
By Thomas P. Zacharias, President, National Crop Insurance Services The Environmental Working Group’s (EWG) most recent report entitled Plowed Under (August 6, 2012) deserves a few candid observations. By all outward appearances, the document appears to be a standalone “research effort.” As such, the report has no real analytical or science‐based foundation. The report attributes […]
Despite Crop Insurance, Drought Still Stings Farmers
Stop by most any unirrigated farm across the lower Midwest and you’ll see crops in distress. Midwestern corn and soybean farmers are taking a beating during the recent drought, but it’s not likely to drive many out of business. Most of those farmers carry terrific insurance, and the worse the drought becomes, the more individual […]
