September 19, 2019

Crop Insurance; Farm Bill; Ag – Rural Economy; Water Issues; Climate Issues; Biofuels; and USDA

Crop Insurance: Standard Reinsurance Agreement

DTN Ag Policy Editor Chris Clayton reported yesterday (link requires subscription) that, “Crop insurers are upset that USDA officials are not yielding on contract negotiations that would reduce payments to insurers by $6 billion over 10 years, but the leader of a trade association for crop-insurance companies appears resigned to the fact payment cuts are coming.

“Bob Parkerson, president of the National Crop Insurance Services [NCIS], said USDA officials have informed insurers that the new standard reinsurance agreement is USDA’s final offer.

“‘I’m going to have to tell you at this point I believe this is the contract we are going to have to accept,’ Parkerson said, ‘or not accept, up to the individual company.’”