1/25/2018

Preparing a Sound Risk Management Plan

Farm Credit East to Host Informational Webinar

January 17, 2018


With weather fluctuation and market volatility, crop insurance is an important program to help producers manage risk by providing protection against damage caused by weather, disease, insects or wildlife. To learn more about the important role crop insurance plays in a sound risk management plan, Farm Credit East and Crop Growers LLP hosted a webinar on Thursday, January 25. View the recording below. 

In 2017, Northeast producers purchased more than 21,000 crop insurance policies, protecting 2.6 million acres with $1.3 billion of protection in force. Northeast producers participating in crop insurance received more than $500 million in claim payments due to weather and market-related crop losses during the 2012-2016 timeframe. Crop insurance payments stabilize the income on farm and provide confidence to reinvest.

Crop insurance has evolved significantly over the past 10 years. With the development of the Whole Farm Revenue Program and county program expansions, the Risk Management Agency is committed to meeting the needs of all producers. Crop insurance has also been enhanced to provide benefits to beginning farmers and organic producers by establishing organic prices that are more reflective of their markets.

Jeremy Forrett, vice president of Crop Growers, LLP, presented this webinar to prepare producers for developing a risk management plan in 2018 utilizing the crop insurance program. Jeremy provided an overview of the covered crops, coverage options, important dates, and how to work with a Crop Growers crop insurance agent to develop a sound risk management plan that will help you meet your business goals. View the recording from this webinar below.

View the PowerPoint presentation from this webinar.