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Crop Insurance Basics: Actual Production History
/in NEWS /by Elizabeth FusickOne of crop insurance’s defining attributes is its self-correcting nature. That is, farmers who exhibit more risk pay more than those who exhibit less – much in the same way that car insurers reward safe drivers. This is done by collecting and analyzing a producer’s Actual Production History (APH), which takes into account a grower’s […]
Crop Insurance Basics: Available to All
/in NEWS /by Elizabeth FusickIn the everyday insurance world, coverage may sometimes be hard to come by. That can be true if you’ve had a disaster – such as a fire in your home – or live in an area at high risk for disaster. Car insurance coverage may be more expensive or even denied if you are a […]
Agricultural Coalition Sends Letters Urging Federal Leaders to Protect Crop Insurance
/in NEWS /by Elizabeth FusickWith a new Administration taking control in Washington, D.C., and many new members joining Congress, it’s more important than ever to remind elected leaders the crucial role crop insurance plays in protecting farmers, ranchers, and rural communities. That’s why a group of 58 farming, banking, and conservation organizations sent letters last week to House and Senate budget […]
Crop Insurance Basics: Good Farming Practices
/in NEWS /by Elizabeth FusickSuppose you’re a homeowner who intentionally neglects your property, refusing to make basic repairs and even creating unsafe conditions like exposed wires or leaky pipes. Now suppose your house, not surprisingly, is damaged from a resulting fire or flood. Are you entitled to a full homeowner’s insurance payout? Of course not. A homeowner’s policy has […]
Crop Insurance Basics: Cost Sharing
/in NEWS /by Elizabeth FusickFederal crop insurance is arguably the first farm policy in history that is financed, in part, by the farmers who benefit from it. Unlike farm policies of the past, which were 100 percent backed by taxpayers, modern-day farm policy requires growers to take an active role in sharing the financial costs of protecting America’s crops […]
Crop Insurance Basics: Actuarially Sound
/in NEWS /by Elizabeth FusickUnless you’re an economist, an insurance guru, or a pension fund manager, chances are good you’re not overly familiar with the term actuarial soundness. In short, it’s a fancy way of saying “the math must work.” For example, an actuarially sound pension fund will have enough money in the bank to meet future obligations. If not, […]
Crop Insurance Protected U.S. Farmers, Rural Communities as Weather, Health, Political Challenges Rocked the Nation in 2020
/in NEWS /by Elizabeth FusickU.S. crop insurance policies protected the country’s farmers and ranchers and ensured rural communities stayed strong in the face of the COVID-19 pandemic, tornadoes, hurricanes, and political unrest. In all, those policies protected 398 million acres of land in 2020. In her opening remarks at the crop insurance industry’s annual meeting, Kendall Jones, chair of […]
New Study Highlights Crop Insurance’s Role in Maintaining Healthy Soil
/in NEWS /by Elizabeth FusickCrop insurance is not acting as a barrier to the adoption of conservation practices and has a role in helping farmers maintain healthy soil. That’s according to a new peer-reviewed study in the renowned Journal of Environmental Management. During the study, researchers from Purdue University, Arizona State University, and the Nature Conservancy used interviews and a multi-state […]
NCIS Scholarship Program Helps Students, Promotes Diversity in Agriculture
/in NEWS /by Elizabeth FusickJaevien Akinmola grew up helping his grandfather raise vegetables and fruit in rural South Carolina. Farming was everywhere in his hometown of Manning. He could walk out his front door and into a farm field just down the road. Today, Akinmola is studying Agribusiness at South Carolina State University. He has big plans to be […]
Idaho Farmer: Crop Insurance Helps Farmers Feed America
/in Idaho, NEWS /by Elizabeth FusickLocated in the southeastern corner of Idaho and situated in a high desert environment more than 5,000 feet above sea level, the town of Rockland can be a difficult location to farm. Extreme weather has the potential to quickly devastate crops. Fifth generation Idaho farmer Jamie Kress understands these challenges and that’s why Jamie and […]