{"id":7211,"date":"2011-12-06T16:16:49","date_gmt":"2011-12-06T16:16:49","guid":{"rendered":"http:\/\/www.ncis.staging.wpengine.com\/?p=1177"},"modified":"2011-12-06T16:16:49","modified_gmt":"2011-12-06T16:16:49","slug":"kansas-farmer-one-size-doesnt-fit-all-when-it-comes-to-risk-management-2","status":"publish","type":"post","link":"https:\/\/iripreviewsite.com\/cropinsuranceinamerica\/kansas-farmer-one-size-doesnt-fit-all-when-it-comes-to-risk-management-2\/","title":{"rendered":"Kansas Farmer: One Size Doesn\u2019t Fit All When it Comes to Risk Management"},"content":{"rendered":"

When it comes to risk management, one size does not fit all, said Kansas farmer Jay Armstrong during a recent radio<\/a> interview with the National Association of Farm Broadcasters that ran nationally in early December. Armstrong noted that his 2,700-acre family farm is split between upland and bottomland. In years of drought, the upland withers while the bottomland blossoms. In years of wet weather, it\u2019s the opposite.<\/p>\n

\u201cSo no matter what extreme Mother Nature throws at me I will suffer losses,\u201d he said, adding \u201cmy story is the story of many thousands of farmers across this country, who grow our nation\u2019s food, feed, and fuel supply while dealing with Mother Nature\u2019s tantrums, year in and year out.\u201d<\/p>\n

Armstrong says most farmers would agree that the single most important item in their risk management tool kit is crop insurance. He says that before federal crop insurance became widely available several decades ago, farming on land like his felt like playing Russian roulette. \u201cIt was nearly impossible to get any kind of coverage for managing risks on my farm where flooding or drought was an occasional occurrence because the private sector just wouldn\u2019t offer it.\u201d<\/p>\n

\u201cBut federal crop insurance took the universality of the public sector and made these important risk management tools available to everyone willing to pay for them,\u201d he said. Armstrong called crop insurance \u201cthe quintessential tool\u201d for managing farms risks because each farmer can choose the plan that makes the most sense for their operation<\/p>\n

Armstrong also said that crop insurance has made him a better businessman, allowing him to market his grains, including corn, soybeans and wheat, well in advance because they are insured. \u201cIf my crop comes up short at the end of the year because of poor weather \u2013 or fails altogether \u2013 the insurance indemnity is there to purchase the grain to fulfill my marketing contracts at the end of the year.\u201d<\/p>\n

Crop insurance was designed by Congress to shield taxpayers from costly weather-induced bailouts that became commonplace in past decades – and Armstrong says it\u2019s working. 2011 might be regarded as one of the worst weather years on record, with crop insurance companies paying out more than $6 billion. But Armstrong points out that with roughly 80 percent of eligible acres covered by crop insurance, there is no need for disaster bills.<\/p>\n","protected":false},"excerpt":{"rendered":"

When it comes to risk management, one size does not fit all, said Kansas farmer Jay Armstrong during a recent radio interview with the National Association of Farm Broadcasters that […]<\/p>\n","protected":false},"author":22,"featured_media":2160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,1],"tags":[47],"class_list":["post-7211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-farm-policy","category-news","tag-farm-policy-2"],"yoast_head":"\nKansas Farmer: One Size Doesn\u2019t Fit All When it Comes to Risk Management - Crop Insurance Keeps America Growing<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/iripreviewsite.com\/cropinsuranceinamerica\/kansas-farmer-one-size-doesnt-fit-all-when-it-comes-to-risk-management-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kansas Farmer: One Size Doesn\u2019t Fit All When it Comes to Risk Management - 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