Filed Under:Markets, E&S/Specialty

Crop Insurance Payments Not a 'Bailout' for Farmers, Associations Say

Farm income is forecast to increase over last year, helped by insurance payouts from the crop-insurance program covering losses from the disastrous drought in much of the country, but insurance associations argue that the program is not a “bailout” that guarantees profits for farmers.

The 2012 Farm Sector Income Forecast from the United States Department of Agriculture says net farm income is forecast to be more than $122 billion this year, up close to 4 percent over last year.

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