Source: Crop Insurance Professionals Association
Crop insurance agents told Congress last week that the U.S. Department of Agriculture (USDA) missed the opportunity to strengthen the nation's crop insurance program, which has become an essential piece of the safety net for producers of nearly all crops and regions.
In a hearing before the House Agriculture Committee, California crop insurance agent Jordan Roach, who serves as vice chairman of the Crop Insurance Professionals Association (CIPA), testified about the state of the industry — noting the positive growth and increasing importance — but was critical of the USDA's mishandling of the recent Standard Reinsurance Agreement (SRA) negotiation that shortchanged the agriculture budget and farmers to the tune of $6 billion.
"The bottom line is that the recently concluded SRA process marked a missed opportunity to strengthen federal crop insurance for producers while saving on delivery costs," he said. CIPA had offered alternatives to reinvest in crop insurance and improve coverage for producers by expanding policies and lowering rates.