Tag: farmers insurance

Crop insurance push made by farmers to U.K. government

crop insurance policy

The National Farmers Union has estimated that last year’s rains came with a £1.3 billion price tag. The record breaking rainfall that was experienced in the U.K. in 2012 has cost farmers across the country an estimated £1.3 billion as a result of poor harvests and the more expensive price of feed for cattle that ensued, leading farmers to ask the government for crop insurance against extreme weather events. This request is meant to help the country to be able to uphold its national food security. Data from the National…

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Crop insurance teetering on the “fiscal cliff”

crop insurance program

The farm bill has been pushed to help to save the protection subsidies from the axe. Lawmakers from rural areas who are concerned that the $9 billion in annual federal subsidies for crop insurance may be considered to be an easy target for cutting spending in order to avoid the looming fiscal cliff. They are now seeking a new way to compromise on the farm bill in order to continue protecting farmers. The House and Senate Agriculture Committee chairpersons had already been prepared to use a new farm bill in…

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Crop insurance placed back in the spotlight following election

Crop Insurance

Attention for farm bill has become an important target for lawmakers. Now that the election is behind us, crop insurance federal subsidies will return to the spotlight as a major target for lawmakers who are seeking to slash the budget deficit in Congress’s first week of the lame duck session. Experts in agricultural policy feel that this is a typical week following a general election. Many doubt, however, that lawmakers will be able to make their way through the deadlock they have been facing regarding the enacting of a $500…

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Crop insurance payouts may break double the previous record

Marc
private Crop Insurance

Some estimates have claimed that the payments will be greater than $25 billion. After crunching the numbers for this year’s crop insurance payments, it looks as though this coverage – which has been vital to farmers this year due to the widespread droughts and floods – it looks as though the payouts will be greater than $25 billion. This will be over twice the $10.8 billion record high that was set in 2011. This year, over 80 percent of the corn fields had crop insurance coverage. Clearly, this was significantly…

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Crop insurance could cost American taxpayers record amounts

private Crop Insurance

Droughts and floods could require $15 billion in U.S. taxes to subsidize this year’s program. Taxpayers in the United States may be facing a record breaking $15 billion in order to be able to continue subsidizing the privately operated crop insurance program, following the devastation from massive droughts throughout the Farm Belt, and flooding in other agricultural regions. Congress is currently seeking a way to help to control the skyrocketing costs. It has been a topic of a great deal of debate and discussion as Congress tries to reduce the…

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