Tag: crop insurance

Crop insurance program is under the microscope due to droughts

Marc
crop insurance claims

This year, America’s farmers are relying on their coverage, possibly more than ever before. The historic drought of 2012 is drawing significant attention to the federal crop insurance program that is designed to assist American farmers throughout times such as this, when natural events cause significant damage to the ability of growers to produce. As the losses on farms continue to rise, it is expected that the program will fork over $18 billion in assistance. Of that money, up to $10 billion of it will have come from taxpayers. This…

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Crop insurance has become critical to the survival of some farmers

Crop insurance program 2014

This year’s droughts have made the coverage vital to many American growers. Farmers have been helplessly watching their corn, wheat, and other produce wither and die and are now relying on crop insurance to get them through the worst drought that the United States has seen in over a half century. The federal program to protect growers has become an important part of survival this year. Without its assistance, many farmers – who are already battling with the high prices of land, cash rents, and high price inputs – would…

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Crop insurance comes under fire in the midst of U.S. drought

Nordstrom
US drought 2012

Drought highlights the controversy surrounding crop insurance The worst drought in 60 years has established a stranglehold in the U.S. The severity and persistence of the disaster is threatening to cause widespread food shortage as the country’s corn and soybean crops begin to suffer. The onset of the drought has brought attention to the country’s crop insurance program. The program was initially formed as a way to provide farmers with the protection they needed but has been subjected to several changes throughout its existence. Now, concerns are rising over the…

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Crop insurance claims could reach $20 billion this year

Drought Insurance

Droughts in 2012 may lead to record breaking insured losses. The drought continues to drag on through many of the main farming states, leading to crop insurance losses that are expected to break records as a result of ruined soybean, wheat, and corn fields. Almost half of the continental American states are experiencing these exceptionally dry conditions. As a result, every day without a significant soaking rain is raising the crop insurance losses. This, according to a National Drought Mitigation Center report at the University of Nebraska-Lincoln. This is creating…

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2012 Farm Bill needed in light of drought disaster

Nordstrom
Texas Drought

Drought spurs organization to appeal to federal lawmakers The drought that has gripped much of the U.S. over the past several months is showing no signs of abatement. Indeed, the drought may be getting worse as many states become official disaster areas due to the extremely dry conditions. The drought has already taken its toll on farmers, but is likely to continue causing problems well into the future. This possibility has led the American Soybean Association (ASA) to petition federal legislators to pass the so called 2012 Farm Bill that…

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