Crop Insurers Signing on to Contract With $6 Billion in Cuts; Agents Object to Caps

This week, U.S. crop insurers will have to sign the latest long-term contract with the federal government — a deal that slashes billions from the long-standing public-private partnership. The U.S. Department of Agriculture must have the 16 companies-signed forms by July 12, leaving just a few days for the insurers to put signatures on the latest Standard Reinsurance Agreement, which cuts the federal program by $6 billion over the next 10 years.