Farmers Shoulder Nearly $17 Billion in Losses in 2012
Before farmers received a single dime in crop insurance indemnity payments, they shouldered $12.7 billion in losses as part of their deductibles to crop insurance policies, according to a guest editorial published today by Tom Zacharias, president of National Crop Insurance Services (NCIS). “When combined with the $4.1 billion farmers paid out of their own […]
Crop Insurance Industry Releases ‘Crop Insurance: Just the Facts’
As crop insurers prepare for the Farm Bill and funding deliberations in the future, National Crop Insurance Services (NCIS) has released a detailed question-and-answer resource laying out the facts about crop insurance and dispelling some of the most common arguments against crop insurance put forth by its critics. “Crop insurance is the single most important […]
New Video: Criticisms Against Farmers Who Purchase Crop Insurance Naïve, Untrue
(OVERLAND PARK, Kan.) — Critics who said that farmers who purchased crop insurance were “praying for drought, not praying for rain” or were “laughing all the way to the bank” during last summer’s historic drought were strongly rebuked by farmers, crop insurance agents and claims adjusters in a new video released today by National Crop […]
Despite Record Losses Crop Insurance Program Remains Strong: March 15 Sales Closing Deadline for Most Spring Crops
OVERLAND PARK, KAN – While 2012 crop insurance indemnity payments have hit a new record high, the taxpayer-funded portion of those losses will be much lower than crop insurance critics warned last summer. That is good news for the future of the program and good news for farmers who are closing in on the March […]
Growing Global Food Demand Underscores Importance of Crop Insurance
(INDIAN WELLS, Calif.) – Strong demand for U.S. commodities – driven primarily by the growing middle class in developing countries – will keep prices strong through the next decade, said Michael Dwyer, director of global policy analysis at USDA’s Foreign Agriculture Service. Dwyer made his comments yesterday during an annual conference sponsored by National Crop […]
2012 Crop Insurance Indemnities Set New Record, But Are Far Lower Than Critics Warned
(INDIAN WELLS, Calif.) — Crop insurance indemnity payments associated with the historic 2012 drought hit a record $14.2 billion Monday and will continue to climb as insurers work to finalize the remaining claims. But according to projections released last week by the Congressional Budget Office (CBO), total indemnities and the taxpayer-funded portion of those losses, […]
Under Secretary Scuse Commends Crop Insurance Providers for a Job Well Done
(INDIAN WELLS, CALIF) – Last year’s drought put the country’s crop insurance system to the test, but the public-private partnership passed with flying colors, USDA Under Secretary Michael Scuse said today at the 2013 crop insurance annual conference. During the disaster, Scuse traveled across rural America and gave farmers business cards with instruction to call […]
Farm Leaders Again Urge ‘Do No Harm’ to Crop Insurance; Reaffirm Crop Insurance as a ‘Top Priority’ in Farm Bill
(INDIAN WELLS, Calif.) — Echoing the same message heard throughout the halls of Congress last year, a panel of farm leaders urged Congress to “do no harm” to crop insurance in the upcoming Farm Bill and to remember that crop insurance is a top priority for most of America’s farmers. Robbie Minnich,senior government relations representative […]
Crop Insurance Wins High Praise from Farmer Leaders
(INDIAN WELLS, CALIF.) Farmer leaders from across the country yesterday called crop insurance their “most important risk management tool” and said it is essential to keep agriculture strong and bring young farmers into an aging business. Curt Friesen, a member of the Nebraska Corn Board, said his son-in-law, who is currently a university teacher, is […]
USDA Official: Crop Insurance Benefits All Americans
(Indian Wells, California) – “An investment in crop insurance is an investment in America’s economy,” Brandon Willis, the acting administrator to the USDA’s Risk Management Agency, said today at the 2013 crop insurance industry conference. He challenged the group of crop insurers and farm leaders to take that message to the general public, which he […]
