Tag: crop insurance premiums

Iowa crop insurance discount applications must be submitted soon

Logan B.
Crop insurance - Crops

State Secretary of Agriculture Mike Naig is reminding farmers of the January 14th deadline. Iowa Secretary of Agriculture Mike Naig has released a reminder to farmers and growers across the state who intend to apply for the crop insurance discount in the state. The deadline of January 14 is rapidly approaching, and Naig is reminding those who plant cover crops to apply on time if they believe they are eligible. Eligible applicants will receive a discount of $5 per acre discount on their spring premiums. Applicants eligible for the discount…

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Private crop insurance companies see shrinking returns

Nordstrom
private Crop Insurance

These insurers have experienced a notable drop in their returns since the SRA was renegotiated in 2010. Private crop insurance companies are experiencing a notable downward trend in their return figures. This has been a consistent situation since the Standard Reinsurance Agreement (SRA) was renegotiated in 2010. The SRA renegotiation between insurers and the federal government marked a significant change in the direction of that business. The change in returns have also aligned smoothly with the Risk Management Agency’s benchmarks. The U.S. Department of Agriculture’s Risk Management Agency laid out…

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Crop insurance in Midwest is increasingly strained

Julie Campbell
Corn Belt - GMO Crop Insurance program

The losses from these claims are continuing to grow in the Corn Belt. After a growing season that has already led to exceptionally high crop insurance losses as a result of droughts, the temperatures in the triple digits are now sending a new wave of claims through the Corn Belt, with record losses being predicted by experts in the industry. This problem has been made worse by the changes that decreased the premiums of some growers. It has been estimated that the crop insurance losses will reach almost $15 billion…

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