Crop insurers gathered this week for the industry’s annual convention in Arizona, where they committed to building on the success of crop insurance to strengthen the farm safety net. Scott Arnold is the chair of National Crop Insurance Services (NCIS) and chairman of Rain and Hail, the largest crop insurance provider in the United States.
“Congress has repeatedly voted to strengthen the crop program insurance over the years, laying the foundation for a smart, actuarially-sound federal policy. This bipartisan broad support for crop insurance has created a program that not only works for farmers and ranchers in all 50 states, but additionally strengthens food security. Everyone needs farmers to eat, and crop insurance keeps America’s farmers growing after regional and widespread disaster.”
Last year, crop insurance protected more than 540 million acres of farmland, a new record. Crop and livestock liabilities totaled more than $205 billion.
“Crop insurance is the preferred risk management tool, in large part because farmers know if a disaster were to strike their farm, their crop insurance agent and company adjuster will be there to help them navigate next steps and ensure aid and indemnification is delivered quickly. I’ve numerous times witnessed firsthand the despair evidenced on a farmer’s face when they’ve lost a harvest…and the relief when together with the adjuster and agent a check is delivered, although not something that will provide them a profit, but does reduce the sting of the disaster and allow them to put the crop in the ground the following year.”
Arnold also thanked the more than 20,000 men and women who effectively deliver crop insurance.
“Crop insurance is driven by people. There are so many hardworking insurance agents, loss adjusters, and company employees working tirelessly to support and serve America’s farmers and ranchers who count on us – and thanks to this network, together we have always delivered.”
The crop insurance convention also championed the investments needed to ensure crop insurance remains a strong, sustainable, and diverse program.
“Crop insurers have never stopped working to improve, strengthen and make available the crop insurance program to all policyholders. Whether it’s outreach to limited resource and socially disadvantaged producers, investments in research and science, or educational efforts on the importance of the farm safety net, crop insurers are building a better future for American agriculture.”