The Department of Agriculture's Risk Management Agency is moving forward with reducing crop insurance rates for cropland protected by 28 levees in states bordering the Missouri River.

Last year, about 19.1 million acres were covered under prevented planting provisions in insurance policies and the indemnity payments have already reached almost $4.3 billion.

Congressmen and commodity group leaders participating in the annual Crop Insurance Industry Convention talked about the need to be proactive in addressing threats and opportunities for the crop insurance program.

The Trump Administration proposed another blow to the crop insurance industry in the president’s annual budget, but Senate Agriculture Committee Chairman Pat Roberts, R-Kans., made it clear that risk management tools should not be cut because they are crucial for both farmers and consumers.

President Donald Trump’s election-year budget proposes $1 trillion in infrastructure spending, including $25 billion earmarked for rural America, while reprising recommendations for slashing farm programs and nutrition assistance.

Many hemp producers will be eligible for multi-peril crop insurance this year, and other growers could qualify for Noninsured Crop Disaster Assistance Program that provides aid to growers who don't have access to conventional crop insurance.

Growers paid over $10 billion to insure almost 380 million acres in 2019. By year-end, crop insurance companies paid out almost $7.6 billion to cover losses and the numbers are expected to grow as all claims are finalized.

USDA’s Risk Management Agency is making more progress on developing crop insurance products for the growing hemp industry.

A five-year, USDA-funded study says that producers can’t get the insurance coverage they need either because it’s unavailable for their particular crops or won’t cover their losses adequately because of the conservation practices they follow.