Attacks on Revenue Insurance Harm America’s Farmers
Farm families across America are struggling. Crop prices are down. Farm incomes have fallen drastically in the past several years and weather disasters have hit farms in most parts of the country. And the pain is trickling down to small businesses and communities throughout rural America. Yet, some lawmakers are pushing proposals that will make […]
Misleading Crop Insurance Attacks Hurt America’s Farmers
Agriculture’s opponents use terms like “guaranteed profits” to disparage the crop insurers that protect America’s food and fiber supply, help farmers pick up the pieces after disasters, and shield taxpayers from footing the whole bill through unbudgeted ad hoc disaster packages. These criticisms unfairly confuse basic business concepts like gross returns and net income. The […]
ICYMI: Insurance Vital for Farmers
By: Luke Sandrock Published in the Herald & Review August 25, 2017 Even the best-laid plans sometimes go wrong. No one knows this more than a farmer. They can plan out the entire year for how they will harvest a crop, but a single storm or a drop in the market can change everything. It […]
An Introduction to Crop Insurance
Welcome to “What’s Cropping Up.” If you’re reading us for the first time, chances are good that you’re either a new Congressional staffer or a reporter that’s joining the ag policy beat. As such, we wanted to start with some of the basics. Of course, if you’re chomping at the bit to graduate from Crop […]
Insurance Basics: Skin in the Game
Crop insurance is arguably the first farm policy in history that is largely financed by the farmers who benefit from it. Unlike policies of the past, which were 100 percent backed by taxpayers, modern-day farm policy requires growers to take an active role in its funding – a concept sometimes called “skin in the game.” […]
Insurance Basics: Delivery Costs
Whenever a customer writes a premium check for an auto or home insurance product, part of that payment is allocated to servicing the policy. That is, insurance companies include an expense load in the premium for each policy beyond anticipated losses to offset overhead costs, such as staff salaries, agent commissions, adjusting losses, employee training, […]
ICYMI: Crop Insurance: What a difference four decades make
Agri-Pulse November 4, 2016 For nearly four decades I have worked with Connecticut River Valley farmers to help protect their livelihoods. Over that time, I’ve seen many changes, both in the make-up of farms and the tools farm families have to manage uncontrollable risk. As our population has grown, the amount of available farmland has […]
Insurance Basics: Coverage Availability
Suppose that you have a fire in your home, or you total your car and have to file a major claim with your insurance provider. On one hand, you’re thrilled that an indemnity is on its way to help pick up the pieces. On the other, you’re dreading future increases in premiums and the likelihood […]
Insurance Basics: The Risk Pool
All insurance, from auto to life, health, and crop insurance, works best when it expands the number of people it covers. That’s because the broader the participation, the more widely risk can be spread. And by spreading the chance of loss among a diverse group of insureds, premiums become more affordable for everyone involved. This […]
Crop Insurers Celebrate Past Success, Set Sights on Future
Crop insurers and farmers have shouldered their share of challenges in recent years, ranging from an historic drought to lower-than-expected financial returns, legislative debates, and implementing a new Farm Bill. But Tim Weber, chairman of the American Association of Crop Insurers and National Crop Insurance Services, said today that those challenges have only strengthened crop […]
