Crop insurance may look notably different following next farm bill

Crop Insurance

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…

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Understanding the insurance overlaps among crop, ACRE, and SURE coverage

A report has been released by economists from the United States Department of Agriculture (USDA) on the topic of overlaps by the various farm safety net programs, investigating the possibility for fraud by those crossovers, but determined that there was very little evidence of its occurrence. However, the hope is that the new Farm Bill will divide the programs in a way that will minimize the potential of overlaps in the future. One of the best examples of farm program complexity is ACRE. The low participation in the program is…

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New subsidy for farmers has backing from lawmakers in the farm states

Lawmakers in the farm states are making efforts to form a brand new type of subsidy that would provide farmers with protection when they face a drop in revenue. This program is unprecedented and would provide farmers with billions of dollars in future support to farmers who are currently experiencing record breaking high prices for their crops. This free insurance subsidy would give farmers with the coverage they need for “shallow crop losses” that are incurred before their paid insurance policies become effective and has the support of soybean and…

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