Tag Archive: "crop insurance"
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$6 Billion Cuts in Crop Insurance Program
As we have discussed in this blog before, the Obama administration is going forward with $6 billion in cuts to the crop insurance program. This will end up slashing agent commissions that have been as high as 30% of premium. Under the new plan, these commissions will now be capped at around 18% of premiums […]
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Alan Kluis of Sucessful Farming has a very good article on marketing and lock in in your crop insurance plans for the upcoming crop year. In the article, he indicates you need to allocate your bushels between insured bushels (A bushels) and non-insured bushels (B bushels). On the insured bushels, you need to meet with […]
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Lack of Data Dooms GRIP & GRP in 1000+ Counties
Marcia Taylor with DTN/The Progressive Farmer had a great post recently on the elimination of crop insurance under the Group Risk Income Protection (GRIP) and Group Risk Program (GRP) in over 1,000 counties across the US. The primary reason for eliminating these counties were due to not reporting at least 30 yield reports or 25% […]
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CRI Trumps APH
Crop insurance has been available to farmers for many years. Until recent years most of this insurance was based upon Actual Production History (APH). Insurance products based upon Crop Revenue Insurance (CRI) have been introduced to enhance and/or replace APH. Marcia Taylor of DTN/Progressive farmer had a good blog on how one farmer in Ohio […]
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Down Time is Go Time
This time of year for most farmers is a period of down time. There may some crops that are planted, but dormant. Some farmers spend time maintaining their equipment for the new year. I think this time is what I call “Go Time.” This is the time to: Prepare and review your operating budget for […]