Live Insurance News

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 in Midwest is increasingly strained

September 19, 2012September 19, 2012 Julie Campbell

The losses from these claims are continuing to grow in the Corn Belt. After a growing season that has already led to exceptionally high crop insurance losses as a result of droughts, the temperatures in the triple digits are now sending a new wave of claims through the Corn Belt, with record losses being predicted by experts in the industry. This problem has been made worse by the changes that decreased the premiums of some growers. It has been estimated that the crop insurance losses will reach almost $15 billion…

Livestock insurance to receive a boost from USDA

August 31, 2012August 31, 2012 Julie Campbell

Farmers to obtain additional help this year due to severe drought. Tom Vilsack, the Agriculture Secretary, has announced a number of efforts that are being made in order to help farmers who have been impacted by the worst drought that has been seen in 50 years, including alterations to the livestock insurance program. The U.S. Department of Agriculture (USDA) will modify its emergency loans. This will allow loans to be made earlier on in the season in order to allow producers to purchase livestock insurance, as well as to offset…

Crop insurance to become available to Michigan cherry growers

August 23, 2012April 30, 2013

These fruit farmers will have this opportunity as a result of the latest farm bill changes. Cherry growers across Michigan may soon have the opportunity to buy crop insurance following the passing of the Farm Bill, which is a piece of legislation that is worth almost a trillion dollars. According to U.S. Senator Debbie Stabenow, “Right now, the tart cherry farmers have zero (crop insurance).” This year has been a devastating one for many of the cherry farmers across the country, starting right at the beginning of the growing season,…

Crop insurance program is under the microscope due to droughts

August 17, 2012August 16, 2012 Marc

This year, America’s farmers are relying on their coverage, possibly more than ever before. The historic drought of 2012 is drawing significant attention to the federal crop insurance program that is designed to assist American farmers throughout times such as this, when natural events cause significant damage to the ability of growers to produce. As the losses on farms continue to rise, it is expected that the program will fork over $18 billion in assistance. Of that money, up to $10 billion of it will have come from taxpayers. This…