Importance of crop insurance highlighted at the 26th Annual Corn Growers Association meeting

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Crop InsuranceAs farmers from all over the country convened over the weekend to attend the 26th Annual Corn Growers Association in Sioux Falls, South Dakota, crop insurance was on everyone’s mind. With 2011 being recognized as a record breaking year in terms of natural disasters, and the persistent problems spawned from a turbulent climate, farmers throughout the country have been facing significant difficulties with keeping their crops alive. As crops are lost, farmers lose their ability to make a living. Most farmers receive money from the government, but this money is a drop in a bucket that is far too empty because of the loss of crops.

Crop insurance has been a major issue for the Corn Growers Association. The Association has been hoping to sway federal lawmakers to make crop insurance more beneficial for farmers. The Federal Crop Insurance Program is currently set up to provide farmers with affordable insurance coverage. With budget cuts announced by the federal government for the fiscal year of 2012, however, the program may become much smaller and insurance prices may increase somewhat. Changes to government subsidy may also affect the crop insurance and its availability to farmers.

Bill Murphy, overseer of the federal program, attended the event this past weekend and noted the importance of crop insurance to the livelihood of farmers throughout the U.S. While climate change may be a controversial issue, there can be no doubt that farmers have been entrenched in a vicious battle against nature. Crop insurance may be one of the very few defenses against such a foe.

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