Crop Insurance Pt 1
From the Ag Information Network, I’m Bob Larson. Crop insurers gathered this week for the industry’s annual convention in Arizona, where they committed to building on the success of crop insurance to strengthen the farm safety net.
Scott Arnold is the chair of National Crop Insurance Services and Chairman of Rain and Hail, the largest Crop Insurance provider in the country …
ARNOLD … “Congress has repeatedly voted to strengthen the crop program insurance over the years, laying the foundation for a smart, actuarially-sound federal policy. This bipartisan broad support for crop insurance has created a program that not only works for farmers and ranchers in all 50 states, but additionally strengthens food security. Everyone needs farmers to eat, and crop insurance keeps America’s farmers growing after regional and widespread disaster.”
Last year, crop insurance protected more than 540 million acres of farmland, a new record. Crop and livestock liabilities totaled more than $205 billion …
ARNOLD … “Crop insurance is the preferred risk management tool, in large part because farmers know if a disaster were to strike their farm, their crop insurance agent and company adjuster will be there to help them navigate next steps and ensure aid and indemnification is delivered quickly. I’ve numerous times witnessed firsthand the despair evidenced on a farmer’s face when they’ve lost a harvest…and the relief when together with the adjuster and agent a check is delivered.
Tune in tomorrow for more on crop insurance and how it allows producers to continue their work in the face of disaster.
