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Tag Archives: crop insurance

CROP INSURANCE HIGHLIGHTS AFBF FARM BILL PRIORITIES

The AFBF’s priorities for the next federal farm bill are in place, and IFB President Richard Guebert Jr. said crop insurance, high on IFB’s wish list, remains prominent among AFBF’s priorities. “We need to keep the funding level where it is; that’s really important,” he said. (FarmWeekNow.com)

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FARMERS TOUT CROP INSURANCE

Farmers in Rep. Rodney Davis’ district spent Monday morning talking with Davis about the benefits of crop insurance at one of his farm bill listening sessions. Farmers stressed the importance of crop insurance, especially as the farm economy continues to dip. “The crop insurance is fundamentally important for risk management,” said Jared Hooker, District 10… read more

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PROPOSED #USDA BUDGET CUTS LEAVE FARMERS REELING

President Donald Trump’s proposed cuts to the USDA budget – including a $28 billion cut to crop insurance – has left many farmers concerned for the future. AFBF says the proposal would “gut” the crop insurance program, kicking farmers out of the pool and making insurance even more expensive. According to AFBF’s top economist, Bob… read more

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ADM SELLS CROP RISK SERVICES

Archer Daniels Midland Monday announced it will sell its Crop Risk Services business. The $127.5 million sale to Bermuda-based Validus Holdings includes a marketing services agreement for the two companies to work together to continue to offer customers a full array of crop insurance products, as well as ADM’s grain marketing services. The deal is… read more

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CROP INSURANCE SALE

Zurich has agreed to pay up to $1.05 billion for Wells Fargo’s crop insurance business. Zurich’s American Insurance Company unit will buy Rural Community Insurance Services in a deal that is expected to close by the end of the first quarter of 2016.

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CROP INSURANCE CUTS

Critics of federal crop insurance are proposing to cut about $24 billion from the program, far more than what was included in a congressional budget agreement. Bills being introduced in the House and Senate would cut $19 billion over 10 years by eliminating the Harvest Price Option on revenue policies.

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CROP INSURANCE

The spring guarantee price of $4.15/bu for corn and $9.73/bu for soybeans for crop insurance revenue claims will remain in force.  The harvest prices determined during October were lower than the spring guarantee rates.

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CROPINSURANCE CLAIMS JUMP AFTER WEATHER CURBS PLANTING

Insurance claims filed by U.S. farmers for crops they couldn’t plant have jumped 48% this year, government data show, the latest indication of how adverse weather is curbing production of corn and other crops.  Total claims so far in 2015 related to 6.45 million acres, the U.S. Department of Agriculture’s Farm Service Agency said in… read more

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CROP INSURANCE WOES

Wells Fargo is taking the bank’s wholly owned subsidiary Rural Community Insurance Services (RCIS) to auction, Reuters reported Tuesday. The sale could bring in more than $1 billion, sources familiar with the matter told the news service. Crop insurers say the current economic picture makes crop insurance less profitable.

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CROP INSURANCE

USDA’s Risk Management Agency (RMA) Friday announced more options for farmers who elected the Supplemental Coverage Option (SCO) or Actual Production History (APH) Yield Exclusion in their crop insurance plans. RMA announced that alfalfa seed, cultivated wild rice, dry peas, forage production, oats, onions, rye and winter wheat are eligible in certain counties for APH… read more

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