Live Insurance News

Growers are running out of time before the crop insurance deadline

September 24, 2015September 23, 2015 Julie Campbell

The Risk Management Agency of the USDA is reminding farmers that they need to act soon, if they haven’t already. A crop insurance reminder has been issued by the Risk Management Agency (RMA) at the USDA to growers in Alabama who intend to purchase coverage, as the deadline of September 30 is coming up quickly. The deadline applies to the coverage available for a range of different types of crops in different counties. For instance, the crop insurance deadline includes policies in Limestone County for canola, as well as for…

Crop insurance available for winter wheat

August 5, 2015August 5, 2015 Julie Campbell

The Department of Agriculture has now given its approval for coverage in all South Dakota counties. A new decision has been made with regards to the availability of crop insurance in South Dakota, as growers in all counties of the state can now obtain coverage for winter wheat, which is good news to them as well as other industries, as well. In fact, pheasant and duck hunters may also be quite pleased by this new insurance coverage decision. The departments of Agriculture and of Game, Fish, and Parks, in South…

Last year saw crop insurance payments plummet

May 14, 2015May 13, 2015 Julie Campbell

Since 2014 saw pretty good production throughout the year, the federal program had to make far fewer payouts. In terms of the overall 2014 growing year, the calculations by the Risk Management Agency of the U.S. Department of Agriculture with regards to the federal crop insurance program have shown that last year saw a reduction in payments by 26 percent when compared to the figures from the year before. The agency report showed in 2014, there was a total of $8.8 billion in payments for yield and price loss coverage.…

Crop insurance eligibility requires producers to prove conservation efforts

April 24, 2015April 23, 2015 Julie Campbell

The U.S. Department of Agriculture has issued a reminder to growers with regards to 2014 Farm Bill requirements. A reminder has now been issued by the U.S. Department of Agriculture (USDA) to growers who wish to ensure that they are eligible for crop insurance, as they will also need to make a filing at their local USDA service center, of a Highly Erodible Land Conservation and Wetland Conservation Certification form (AD-1026). This form needs to be filed by June 1, 2015 in order to obtain premium support from the insurance…

ADM to use drones to investigate crop insurance claims

April 24, 2015April 23, 2015 Marc

commercial drones crop insurance industry news

ADM wins approval to use drones to collect crop insurance data Archer Daniels Midland Co. (ADM), a food processing and commodities provider that offers insurance coverage through captives, may soon begin using drones to investigate crop insurance claims. The ADM Crop Risk Services branch has won approval to use drones for such a purpose from the Federal Aviation Administration. This approval makes ADM one of the very few companies in the insurance industry that has managed to receive approval from the Federal Aviation Administration to use drones for a commercial…

Crop insurance price guarantees to drop

March 2, 2015March 1, 2015 G. Turner

Grain analysts are expecting those guarantees to fall yet again for corn, soybeans, and spring wheat, this year. According to recent predictions from grain analysts, the crop insurance price guarantees for American spring wheat, corn, and soybeans is going to fall by another 10 percent, this year, based on an analysis of February futures settlement prices. The USDA provides a subsidy for a minimum of two thirds of the insurance premiums paid by farmers. The crop insurance program, itself, has oversight by the USDA Risk Management Agency (RMA), which also…

Crop insurance unit at Deere to be sold to Farmers Mutual Hail

December 22, 2014December 20, 2014 G. Turner

The largest agricultural machinery company on the planet has agreed to the sale of its coverage business. After having experienced several years of losses, Deer & Co. has now agreed to sell its crop insurance unit to the Iowa based company called Farmers Mutual Hail Insurance Co. This allows the agricultural equipment manufacturer to shed a component of its business that has been quite costly. The sale of the crop insurance involves two of the company’s coverage units. These are: John Deere Risk Protection, and John Deere Insurance Co. The…