Tag: crop insurance coverage

Crop insurance up for reform in the US

Logan B.
Crop Insurance

US lawmakers begin looking to reform crop insurance program In the U.S., federal lawmakers are working to renovate the country’s financial safety net for farmers. The federal crop insurance program is the most expensive part of this safety net and has long been a controversial subject among politicians and taxpayers alike. In 2012, the capabilities of the crop insurance program were put to the test by a severe drought that gripped much of the country. The drought caused an estimated $35 billion in damage in the Midwest, contributing to an…

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Crop insurance program in Rwanda uses satellites

G. Turner
Crop Insurance

Weather technology will be helping to support the coverage that will be provided through the government. The government of Rwanda has now introduced a new crop insurance program for growers that is supported by satellite weather stations that will be keeping tabs on the precise impact that heavy rains and drought have on farming efforts. The coverage is geared toward protecting and learning from small sized farms within this Central African country. The country’s farmers have been plagued with devastating natural events such as the current drought in the south…

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Crop insurance study shows coverage saved thousands of jobs

Crop Insurance

It is believed that employment was maintained for 17,000 people in Iowa and Nebraska due to the protection. The results of a recent study have shown that the payouts from farms that had federally subsidized crop insurance generated an economic impact of an estimated $2.2 billion across a region of four states, and that it saved 17,000 jobs in Iowa and Nebraska, alone. The researchers who conducted the study were seeking to define the impact of the coverage on the state economies. The purpose of the research was to find…

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Crop insurance payouts show modest damage

S.Vagus
Crop Insurance

Drought spurs moderate crop insurance payouts this year The ongoing drought that has gripped much of the U.S. may not be as economically calamitous as had been predicted, according to insurance payouts to farmers in some of the most drought-stricken states. Earlier this year, farmers had expected to lose the vast majority of their produce due to severe drought. While the drought proved to be one of the worst the country has experienced in its history, spurring the federal government to purchase stocks of fish and produce, the economic impact…

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The changing face of federal crop insurance

Bill Murphy, an administrator at the Risk Management Agency (RMA) has announced that the Federal Crop Insurance program will be undergoing some positive changes in the near future. Murphy was present at the Big Iron Farm Show in West Fargo and spoke to the crowd about the current year’s issues as well as changes to the program. Not all of the news was good, as Murphy did need to discuss the unprecedented number of catastrophes in 2011 that left farmers hurting this year; from the overly wet soil in North…

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