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Balanced Reporting. Trusted Insights.
Saturday, May 21, 2022
A crop insurance product that allows farmers to insure their entire operation under one policy has seen ups and downs since it became available under the 2014 farm bill. Whole Farm Revenue Protection (WFRP) grew out of the former Adjusted Growth Revenue and AGR-lite pilot programs that date back to 2008.
House Agriculture Committee Chair David Scott, D-Ga., said the committee is working on permanent disaster legislation to help farmers recover financially from natural disasters, but skeptics say developing a good framework could be challenging.
Ahead of what could be another severe wildlife season, a new tool uses air quality and atmospheric data to give farmers up-to-the-minute information about crop risk.
The debate over climate policy usually includes some discussion about whether the U.S. crop insurance system should be changed to either incentivize more conservation or better address weather threats. Yet two experts said this public-private partnership is already reflecting changes in climate and new innovations in agriculture, with the potential for more targeted improvements to come.
USDA’s Risk Management Agency will move premium dates and boost subsidies under the Livestock Risk Protection insurance program meant to protect producers against price declines.
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.
