Private Crop Insurers Oppose Funding Cuts
The private crop insurance industry is blasting a proposed restructuring in the crop insurance program they say would cut $4 billion — or $800 million a year — over the next five years. The proposal, by the U.S. Department of Agriculture and the Risk Management Agency (RMA), which manages the federal insurance program, would also impose as […]
Fundamental Problems Exist with the USDA’s Proposed 2011 Standard Reinsurance Agreement; Private Industry Seeks Solutions
FOR IMMEDIATE RELEASE January 20, 2010 OVERLAND PARK, KANSAS..The private crop insurance industry today released a proposal for the 2011 Standard Reinsurance Agreement (SRA). The SRA is the contract under which the private insurance companies agree to deliver the federal crop insurance program to the nation’s farm producers. The industry’s proposal is in response to […]
Old Man Winter puts squeeze on Florida orange growers
Florida growers have yet to determine how much damage their crops suffered from the cold snap that gripped most of the country the first week of January, but insurance experts say much of the expected losses will be covered. Freezing temperatures descended on South Florida and much of the Southeast for more than a week, causing […]
Crop Insurance Protects Freeze-Damaged Crops in Florida Against Coldest Temperatures in 20 Years
FOR IMMEDIATE RELEASE January 12, 2010 Producers with damage urged to contact agent OVERLAND PARK, KANSAS..Florida has just over $3 billion in liability in crop insurance on crops ranging from citrus and citrus trees to nursery and fresh market tomatoes. “All of it is protected against the record freeze that hit this past weekend, […]
Freeze Threatens Florida’s Tropical Fish
Frosted oranges, strawberries encased in ice: the images of Florida’s freezes are familiar, sad and earthy. But just past the crop rows here in the state’s agricultural core, there swims another sizable industry that has suffered more than any other because of this year’s unusually long cold snap — tropical fish. Workers at Urban Tropical covered ponds with […]
USDA Releases First Draft of Proposed Crop Insurance Agreement to Protect Farmers From Higher Costs, Rein in Costs, and Improve Access to Crop Insurance Throughout the Country
USDA’s Risk Management Agency (RMA), which administers the Federal crop insurance program, today released the first draft of a proposed new Standard Reinsurance Agreement between the Federal Crop Insurance Corporation and the crop insurance companies which deliver the program nationally. The 2008 Farm Bill authorized RMA to renegotiate the agreement which was last negotiated for […]
Crop insurance agent: First contact after washout
If there is one thing farmers should avoid at the end of this bleak crop season, it’s jumping the gun. Facing one of the biggest crop disasters in years, insured producers’ first priority should be to contact their insurance agent as to their options. “For insurance purposes, this late in the season, it’s possible they may require […]
Crop insurance can salvage some loss
Near-constant rains during harvest-time have cost Mississippi farmers an estimated $371 million in losses, and producers with crop insurance may be the only ones able to salvage much more from the fields this year. Cotton is expected to take the biggest hit, losing 43 percent of its potential value. Most corn was harvested before the rain, […]
Crop Insurance Scores Well in Profitability and Effectiveness Analysis
FOR IMMEDIATE RELEASE October 8, 2009 Independent study by Grant Thornton LLP shows that Federal Crop Insurance Program compares favorably to property and casualty industry OVERLAND PARK, KANSAS..A study released today by National Crop Insurance Services shows that over a 17 year period (1992-2008) the Federal Crop Insurance Program has been significantly less profitable […]
Producers with Grain Quality Questions Urged to Contact Crop Insurance Agents and Companies
FOR IMMEDIATE RELEASE September 28, 2009 OVERLAND PARK, KANSAS…National Crop Insurance Services (NCIS) is urging farmers with grain quality concerns to contact their crop insurance agent or company to determine coverage options in case of damage to crops from disease, weatherrelated events, or other causes. “While we, like everyone, are closely monitoring the mycotoxin situation […]
