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5 years ago · by · 0 comments

Senate Rejection of Amendment to Further Cut Crop Insurance Program

Surich insuranceAs seen in: Property Casualty 360 6/20/2012 By Arthur D. Postal

Last month the Senate rejected a particular amendment to the farm bill S. 3240 that “…would have stripped the Federal Crop Insurance Program (FCIP) budget baseline by $5 billion, leading to a 37 percent reduction in Administrative and Operating (A&O) funds, and would have reduced the overall program cap to $825 million.”

The Administrative and Operative funds was used partly to pay to pay the agents commissions of the agents upon the sale of crop insurance. The cut that was proposed would have been on top of  additional cuts that have already been made.

Industry officials have been quoted at saying, “At a time when farmers are being asked to rely on crop insurance even more as their primary risk management tool, it seems irresponsible to further deplete the crop program of its critical resources,” according to Charles Symington, senior vice president of government affairs for the Independent Insurance Agents and Brokers of America.”

Scurich Insurance Services cares about any problems that you maybe going through on your farm. Contact any of the friendly and helpful agents at Scurich Insurance Services with any of your questions regarding your agriculture insurance policy.

Content was first stated by: http://www.propertycasualty360.com/2012/06/20/senate-rejects-amendment-that-would-further-cut-cr?t=agency-management&utm_source=PC360DailyeNews&utm_medium=eNL&utm_campaign=PC360_eNLs

Scurich Insurance Services did not originally write this content.

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