Uninsured: Federal Crop Insurance Program Leaves Most Farms Unprotected
Crop insurance is the cornerstone of the farm safety net, insuring farms for losses from unpredictable weather, market fluctuations, and other risks. Consequently, the federal crop insurance program (FCIP) is the costliest part of agriculture production spending, as taxpayers subsidize the program to the tune of billions of dollars each year. Despite being a cornerstone program, crop insurance caters primarily to the largest farms while stifling the participation of those with specialty crop production, diverse production systems, and direct marketing models.
This post offers a deep dive into federal crop insurance coverage, looking at which farms are being left out of current coverage, why, and how the program can be strengthened to serve all American farmers.
How Does Federal Crop Insurance Work?
In the FCIP, agents working for private companies sell and service a …