Search Results

A vibrant farm industry is currently helping the crop insurance industry cope with the Agriculture Department's decision to substantively cut back its subsidy program, "but every year is a new year."

Crop insurers said late Thursday the industry and the crop insurance program will be able to "withstand" the severe cuts in subsidies imposed on the program by the Agriculture Department.

The nation's crop insurers warned that the industry's "back is against the wall" as they reiterated objections to a planned 30 percent cut to the federal crop program.

A proposed tax on offshore reinsurers will likely raise costs for crop insurers and could reduce even further the players in that market, a lobbyist for Bermuda insurers warned Monday.

Officials from the crop insurance industry are voicing opposition to a proposal by an Iowa State University professor that the current system be replaced with a direct subsidy program.

Sydney, Australia-based QBE Insurance Group Limited announced that it has agreed to acquire NAU Country Insurance Company, a crop insurer, for $565 million, highlighting a diversification goal as an impetus for the deal.

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 remains a stable ship in an otherwise turbulent financial services sea, even though the economy is in recession, industry subsidies were reduced through the 2008 federal farm bill, and there are concerns about further cuts.