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Vilsack says insurance firms will accept cuts

July 2010

Agriculture Secretary Tom Vilsack says he expects most if not all crop insurance companies to sign an agreement that will reduce the industry’s profits. “This is a fair deal and it’s reflected in the fact that we’re seeing a number of companies being prepared to accept the terms and conditions,” Vilsack said on a conference call with reporters. Sixteen senators, including leaders of the Senate agriculture committee, appealed to Vilsack last week for last-minute changes to the agreement, which companies must sign if they want to continue selling the federally subsidized insurance.

Des Moines Register

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