Live Insurance News

Crop insurance teetering on the “fiscal cliff”

December 17, 2012April 30, 2013

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…

Crop insurance placed back in the spotlight following election

November 9, 2012April 30, 2013

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…

Crop insurance may look notably different following next farm bill

September 25, 2012April 30, 2013

Risk management may play an important role in its shape and angle. As the cost of crop insurance continues to skyrocket and takes steps away from paying growers directly and toward measures for risk management, Ohio State University agricultural economists are now predicting that the new focus will play an important role in the shape of the next Farm Bill. The agricultural economists shared their opinions at the 50th Farm Science Review in Ohio. Among those included on the panel at the review featured Carl Zulauf, who is an expert…

Crop insurance has become critical to the survival of some farmers

August 15, 2012April 30, 2013

This year’s droughts have made the coverage vital to many American growers. Farmers have been helplessly watching their corn, wheat, and other produce wither and die and are now relying on crop insurance to get them through the worst drought that the United States has seen in over a half century. The federal program to protect growers has become an important part of survival this year. Without its assistance, many farmers – who are already battling with the high prices of land, cash rents, and high price inputs – would…

Crop insurance changes are already assisting farmers facing drought

July 25, 2012July 25, 2012 Nordstrom

Dry conditions threaten agricultural yields across the country. As farmers continue to look to the skies and await the much needed rain that never seems to come, changes to the crop insurance program will now be providing some required assistance. The U.S. Department of Agriculture will be helping farmers through this time of drought. This announcement was made by U.S. Senator Bob Casey (D-PA). He explained that “As the drought worsens, it’s imperative that Pennsylvania farmers have every tool at their disposal to cope with the possible damage.” Senator Casey…

Senate crop insurance reforms face opposition by House panel

July 15, 2012April 30, 2013

Challenges to changes made by U.S. House Agriculture Committee. The two new reforms for crop insurance that had received Senate approval have been challenged by the U.S. House Agriculture Committee, forming yet another dispute on the farm bill, as time for enacting the new law comes ever closer to running out. Aside from this disagreement, the House also seeks to boost price supports for crops by up to 40 percent. On the other hand, the Senate would prefer to cease the subsidies altogether. The preference of the House is to…

Lawmakers clash with Obama administration over the matter of crop insurance

February 17, 2012May 5, 2013

Federal legislators representing various agriculture committees in Congress have rejected the cuts to crop insurance President Obama unveiled in his budget plan this week. The plan looks to cut $8 billion in funding for crop insurance throughout the country. Legislators claim that this would be a major blow to many farmers, especially those in areas that are prone to seeing natural disasters. The Obama administration is keen to make cuts to crop insurance because it claims that some farmers are abusing the system, as they will be paid for their…