U.S. drought prompts record crop insurance payout

washington / reuters Crop insurers have paid a record $11.6 billion to U.S. growers in compensation for losses due largely to widespread drought in 2012. Some analysts expect indemnities to reach $20 billion this year, nearly double the old record set in 2011. That would mean steep losses as insurers collected just over $11 billion

Plan for the worst, hope for the best, advises ag lawyer

When fires, cattle or herbicides jump fences, the property owner is usually “strictly liable” for whatever escapes his or her property

In the opinion of the courts, cattle belong on pasture, not on the road. So how does a rancher protect himself from legal liability issues when moving a herd from one part of his property to another via public roads? The key is having a program to minimize exposure to legal liability in case a


U.S. crop insurance a post-election target

The federal government will likely shell out $15 billion or more for its share of crop losses caused by drought

Reuters – Federally subsidized crop insurance will be a big target for U.S. lawmakers looking to cut the budget deficit in the lame-duck session of Congress that opened recently after a status quo general election. But lawmakers aren’t expected to break their deadlock over enacting a five-year, $500-billion Farm Bill covering a wide range of

Grain payment security options back in play

With Ottawa planning to switch from bonding to insurance it’s time to dust off the Scott Wolfe Management report


The federal government’s plans to revamp the Canadian Grain Commission (CGC) include replacing the current bonding system with an insurance scheme to protect farmers when grain companies default on payments. CGC spokesman Remi Gosselin says an insurance program will be cheaper for the grain industry and provide better protection for farmers. More than three years


KAP calls for review of crop insurance to address deductibles, other concerns

Crop insurance will be increasingly important to Manitoba farmers because of recent cuts to Agri-Stability and AgriInvest, says Keystone Agricultural Producers vice-president Dan Mazier. The Manitoba government needs to understand that, he said at KAP’s General Council meeting last month. Delegates passed a resolution calling for a review of crop insurance. While most Manitoba farmers

Crop-insurance tab for U.S. drought could top $15 billion

Reuters / U.S. taxpayers could pay a record $15 billion to subsidize the privately run crop insurance program in the wake of this year’s devastating drought. The program’s runaway costs are in focus as Congress looks for ways to cut government spending, making crop insurance a bigger target for reforms. Precise estimates won’t be available


Agriculture Hall of Fame

Five Manitobans were honoured for their contribution to agriculture and their community at an induction ceremony for the Manitoba Agricultural Hall of Fame July 12. The Co-operator is featuring each in consecutive weekly editions

Hayden grew up on the family farm near Otterburne West in Manitoba, with his parents, Roy and Elizabeth, and three older brothers, Clayton, Garnet and Wallace. He graduated from the University of Manitoba with a BSA in 1949. His “aggie” classmates nicknamed him “Doc Tolton,” as he always had thoughtful and concise answers to questions

Local investment can pay off

Canadians may not have to face some of the dangers others in the world are dealing with directly, but there’s still good reason to be nervous. After all, Bernie Madoff drained the accounts of his Canadian holders — including some of our most prominent institutions. If the shenanigans at Jon Corzine’s MF Global or at


No way to duck crop insurance disaster

  Many on Capitol Hill are quick to point out that “if it walks like a duck and talks like a duck, it’s a duck.” What they never add is that this little blinding glimpse of the obvious has never stopped legislative quackery in the past, and it’s not stopping it now. For example, as

FNA announces MarketPower Assurance program

Farmers selling to the feedlot down the road or to a noodle maker in Japan can now insure their sale against default through the new MarketPower Assurance program offered by the Farmers of North America (FNA) and its partners Atradius Credit Insurance, Export Development Canada, and Pangaea Global Risk Management. “It is literally the first