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Crop Insurers Hope to Convince USDA to Backtrack on Insurance Pact

June 2010

The group that represents U.S. crop insurers is preparing for a June 18 meeting with officials of the U.S. Department of Agriculture to hash out some disagreements over the latest draft of the Standard Reinsurance Agreement — a draft the federal officials are calling final but that the insurers said they feel blindsided by. The National Crop Insurance Services — the Kansas-based association representing the insurers — said there are provisions in the long-negotiated agreement that they hadn’t seen before. “We are a little astounded by the fact that they’re calling this third draft a final draft.,” said Robert W. Parkerson, the association president. “There are several items in there that we never discussed.”

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