With the signing of the 2014 farm bill, many farmers breathed a sigh of relief. But the end of farm bill negotiations was the beginning of the decision making process for farmers who rely on the federal crop insurance program.
To answer the questions, the National Crop Insurance Services on Tuesday updated a web resource that it says will answer insurance questions, explain major and minor policy changes and introduce new products like the Supplemental Coverage Option and STAX.
The analysis will also discuss the links between a premium discount and conservation, NCIS says.
"The 2014 Farm Bill is a turning point in federal policy towards agriculture, pivoting away from the traditional support mechanism paradigm of the past and into a risk management model that features crop insurance as farmers' primary – or only – risk management tool," says Tom Zacharias, President of National Crop Insurance Services.
The analysis updates the NCIS' online offering, Crop Insurance: Just the Facts. The resource is housed on the Crop Insurance Keeps America Growing webpage where it will be continuously updated.
"This resource has proved invaluable to farmers, students and policy experts who need to better understand the nuts and bolts of crop insurance," Zacharias noted in a press statement.
In addition to addressing the various aspects of the new Farm Bill, the online series covers economics of the crop insurance industry, risk management in global terms and how crop insurance can benefit producers, NCIS says.