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 […]

CROP INSURANCE IN ACTION: Mike Garavaglia, Vero Beach, Florida

damage orange grove crop insurance

Florida accounts for roughly 70 percent of the U.S. annual production of citrus, of which the vast majority goes into processing, mostly for orange juice. Citrus is big business in the Sunshine State, and Mike Garavaglia is one of Florida’s many citrus growers who make their living putting fresh citrus on the tables of America’s […]

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 insurance adjusters making rounds before fall harvest

In this drought, crop insurance has turned into a lifeline for many farmers in the Tri-States. The U.S. Department of Ag says it expects corn growers to average 123 bushels per acre, which is down 24 bushels from last year. The federal government says corn growers could end up with their lowest average yield in […]

NCIS Responds to August 10, 2012, USDA Crop Progress Report

The following statement is in response to the August 10 USDA Crop Report. The statement should be attributed to Thomas P. Zacharias, president, National Crop Insurance Services. “As expected, the Agriculture Department lowered the corn and soybean production forecast in its August 10 crop production report released today, due to heat stress and extreme drought […]

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 […]

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 […]

Crop Insurers Reassure Farmers as Drought Worsens

OVERLAND PARK, KANSAS, July 18, 2012 – As the drought spreads and attention turns to worsening crop conditions in farm country, the nation’s crop insurers today reassured farmers that companies will have the money necessary to quickly pay out claims in 2012, even amid record payouts last year. For every dollar of premium that insurance […]