Proposed cuts in the subsidies provided crop insurers by the U.S. Department of Agriculture could lead some reinsurers that support the program to withdraw or scale back their capacity, according to an insurance brokerage.
Crop insurers are challenging a new study on their profitability commissioned by the U.S.D.A., saying it is misleading and should not be used to set the rate of return for crop insurers participating in the Federal Crop Insurance Program.
Crop insurance carriers and independent agents say the U.S. Agriculture Department's latest proposed cuts in subsidies in the program as well as a "soft cap" on agents' commissions are both unwarranted and hurtful.
Proposed cuts for the U.S. Agriculture Department's subsidy to the crop insurance program are excessive and will likely lead to more consolidation in a shrinking private crop insurance industry, an insurers' representative told the agency.
In the United States, the numbers of voluntary and involuntary recalls continue to hit higher levels than in the past--or at least they have played out more dramatically in the media.
CAUTION! A U.S. government agency has alerted consumers that consumption or use of this product may pose an unsafe, hazardous or potentially harmful threat to users.
Vermont Captive Insurance Association President Molly Lambert will be leaving VCIA to take a post as state director for rural development for Vermont and New Hampshire at the U.S. Department of Agriculture.
Vermont Captive Insurance Association President Molly Lambert announced today that she will be leaving VCIA to take a post as U.S. Department of Agriculture Vermont and New Hampshire state director for rural development.