Tag: Federal Crop Insurance Corp

Agriculture, Commentary, Environment1 Comment

Farm insurance unfairness: Taxpayers foot the bill, but only for the ‘golden crops’

Gary Dickson

Farmers in Iowa face challenges getting insurance coverage for agritourism due to high premiums and limited options. The federally subsidized insurance largely benefits large-scale commodity crops, leaving smaller-scale farmers with limited support. Calls for reform and reduced subsidies highlight the disparity, with Republican lawmakers advocating for increased support for the “Golden Crops.” The author questions the fairness of taxpayer-funded support for crop insurance while essential public services remain underfunded. Continue reading Farm insurance unfairness: Taxpayers foot the bill, but only for the ‘golden crops’

Agriculture, Government, South DakotaLeave a comment

$8.3B in crop insurance payouts to South Dakota farmers: A cost of climate change

Gary Dickson

South Dakota farmers have received nearly $10 billion in payouts from the Federal Crop Insurance Corp. over roughly the past two decades, with payments specifically due to weather disasters rising significantly during that time.

Between 2001 and 2022, South Dakota was among the top states in the nation for receiving insurance payouts for crop losses due to weather disasters, a trend environmentalists have said reveals a hidden but rapidly rising cost of climate change that is increasing the frequency and severity of storms that damage crops.

American taxpayers have funded a large portion of the payouts, as nearly 65% of the premiums for the crop insurance program run by the U.S. Department of Agriculture are subsidized with federal funding. Continue reading $8.3B in crop insurance payouts to South Dakota farmers: A cost of climate change