Crop insurance providers today released the first in a series of educational videos meant to highlight three policy attributes that are essential to maintaining a strong crop insurance system in the face of future market and weather challenges.<\/p>\n
The first three-minute segment examines the widespread availability of crop insurance, whereas future videos will look at the affordability of policies and the viability of private-sector delivery.<\/p>\n
\u201cCongress cemented crop insurance\u2019s role as the centerpiece of the farm safety net during the 2014 Farm Bill,\u201d explained Tom Zacharias, president of National Crop Insurance Services, the trade group that sponsored the video series.\u00a0 \u201cHowever, that safety net will collapse if crop insurance policies aren\u2019t widely available, aren\u2019t affordable to producers, and aren\u2019t economically viable to be administered by efficient private insurance providers.\u201d<\/p>\n
According to the first video, \u201cCrop insurance is similar to other kinds of insurance. The more people who purchase policies, the more people who help share risk.\u00a0 And when risk can be spread out along a broader base, it helps lower the cost for everyone.\u201d<\/p>\n
That is why it is it is so important for insurance to be available for all kinds of crops and to farmers of all sizes and backgrounds, NCIS noted.<\/p>\n
\u201cThe more the merrier.\u00a0 From corn and cotton to cherries and canola, every single acre enrolled helps strengthen the whole system,\u201d the video explained.<\/p>\n
The recently passed Farm Bill took big steps to make crop insurance more available to beginning farmers, organic producers, and fruit and vegetable growers.\u00a0 Lawmakers also stopped legislative attempts to reduce insurance benefits available to larger farms \u2013 a plan that would have raised costs on all farmers and increased taxpayers\u2019 risk exposure<\/p>\n
\u201cCongress got it right by making crop insurance more widely available and stronger than ever.\u00a0 Now, we just need to keep it that way,\u201d the video concluded.\u00a0 \u201cAfter all, not everyone farms, but everyone eats.\u00a0 So everyone depends on a strong farm policy.\u201d<\/p>\n