Tag: crop insurance rates

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 up for reform in the US

Logan B.
Crop Insurance

US lawmakers begin looking to reform crop insurance program In the U.S., federal lawmakers are working to renovate the country’s financial safety net for farmers. The federal crop insurance program is the most expensive part of this safety net and has long been a controversial subject among politicians and taxpayers alike. In 2012, the capabilities of the crop insurance program were put to the test by a severe drought that gripped much of the country. The drought caused an estimated $35 billion in damage in the Midwest, contributing to an…

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Crop insurance program changes are supported by some farmers

Crop Insurance cuts

Some growers in Kansas are giving the nod to a bill that would decrease newly converted land subsidies. Although it would be natural to expect that farmers would be entirely against legislation that would place a tougher limit on crop insurance subsidies, there are some that are expressing their belief that the move is indeed designed to protect their interests over the long term. The changes to the subsidies would mean a reduction for grasslands that had not previously been agriculture space. These changes have to do with the Protect…

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Crop insurance in the US braces for costly impact

Nordstrom
Crop Insurance

Crop insurance payouts could be a costly issue The U.S. has been battered by an extensive and severe drought that has destroyed farmlands throughout much of the country. The drought has been a significant problem for some time and has been at the center of arguments and legislative action concerning the issue of crop insurance. Even before the drought took hold of the country, crop insurance was a hot issue. Now, the economic impact of insurance payouts that many have feared are becoming a reality. Analysts suggest insurance payouts could…

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