Live Insurance News

Crop insurance subsidy could come to an end for tobacco farmers

May 25, 2013May 25, 2013 G. Turner

Growers of these plants in Kentucky are strongly opposed to this new proposal to end their programs. An amendment to the 2013 Farm Bill was proposed, this week, by Senator Dianne Feinstein (D-California) and Senator John McCain (R-Arizona), which would eliminate eight of the USDA tobacco crop insurance programs. This has caused concern to the Council for Burley Tobacco, which has asked farmers to contact their Senators. The council notified tobacco farmers of the changes that have been proposed for the crop insurance program and have requested that they contact…

Crop insurance in the farm bill is now up for debate in the Senate

May 22, 2013May 25, 2013 H. Cutner

The cuts to the federally subsidized program are facing consideration by Senators this week. This week, the Senate is now debating the proposed cuts to the federally subsidized crop insurance program, as an element of the enormous farm bill which is also being considered. On Monday, the Obama administration said that it wanted greater cuts to the subsidies and coverage. They stated that they wanted more crop insurance cuts in the legislation, and that the farm subsidies should also be reduced. The current proposal would cost nearly $100 billion per…

Crop insurance expansion approved by Senate panel

May 17, 2013May 25, 2013 H. Cutner

The farm bill that would broaden the coverage has now received the approval from a U.S. panel. The Senate Agriculture Committee has just approved its version of the farm bill – the House is debating another – which would expand the reach of the federally subsidized crop insurance program and that will cost approximately $500 billion over a period of ten years. The bill will also make some limited cuts on the spending for the food stamps that are issued to the poor. The Senate bill is one thousand pages…

Crop insurance gets bigger as the latest farm bill’s costs rise

May 16, 2013May 25, 2013 H. Cutner

The federally subsidized program will now offer a minimum of three new forms of protection. The most costly part of the safety net for American farmers, the federally subsidized crop insurance program, will now have at least three new forms of coverage available to growers across the country. The farm bill draft is currently pending in both the Senate and the House of Representatives. It has been suggested that the new form of crop insurance could generate a cost that is 10 percent higher than the expense it currently generates.…

Crop insurance up for reform in the US

May 14, 2013May 25, 2013 Logan B.

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…

Crop insurance program in Rwanda uses satellites

May 14, 2013May 25, 2013 G. Turner

Weather technology will be helping to support the coverage that will be provided through the government. The government of Rwanda has now introduced a new crop insurance program for growers that is supported by satellite weather stations that will be keeping tabs on the precise impact that heavy rains and drought have on farming efforts. The coverage is geared toward protecting and learning from small sized farms within this Central African country. The country’s farmers have been plagued with devastating natural events such as the current drought in the south…

Study exposes dubious nature of crop insurance in the US

May 3, 2013May 2, 2013 Logan B.

Crop insurance program highlighted in new study Last year, the worst drought the U.S. has experienced in over 50 years brought significant attention to the country’s crop insurance program. The drought led to record payouts from the crop insurance program, which is subsidized with taxpayer money. The program is designed to provide some financial aid to farmers who lose their crops due to natural disasters and other catastrophic events. This was not the case for the 2012 drought, however, according to a new study from the Iowa State University. Study…