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.
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.
The USDA's Risk Management Agency will allow farmers who purchased a supplemental hail policy from Crop Pro Insurance to switch their federally subsidized multi-peril crop insurance back to their previous provider after the firm abruptly cancelled hundreds of policies.
WASHINGTON, Oct. 4, 2017 – Commodity groups in Washington are preparing for what might be one of the more “in the weeds” conversations of the next farm bill as they seek to decide the source of data for future legislation.