Agent associations joined the National Crop Insurance Services in criticizing the Obama administration's decision to cut the federal crop insurance program by $6 billion over the next 10 years.
Agent associations have joined the National Crop Insurance Services' (NCIS) criticisms of the Obama administration's decision to cut the federal crop insurance program by $6 billion over the next 10 years.
The crop insurance industry is in the midst of a major transformation. Last December, the USDA and the Risk Management Agency (RMA) released the first draft of the Standard Reinsurance Agreement (SRA)
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.