Crop Insurance Today February 2018 - 1

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"The Long Run"
Tom Zacharias, NCIS President

Today, crop insurance
protects 311 million
acres on more than
130 different crops,
and there are 62,000
different county/
crop/practice/type
combinations for
farmers to choose
from to get the best
protection possible
for their crops.

Welcome to the first edition of TODAY® magazine for 2018 as we put another year in the rearview
mirror. We are now through the first year of a new Administration and we await the possibility of a
new Farm Bill. As our old friend Jerry Jeff Walker would sing "...I've been down this road once or twice
before..."
As I reflect on 2017 and prepare for 2018, it occurs to me that amid all the short-term noise and
political uncertainty, we in the crop insurance industry should set our sights on the "Long Run." And,
of course, being an amateur retro-music person, I thumbed through the stack of "virtual" LPs on the
Internet and found an old Eagles tune, "The Long Run."
"Who is going to make it? We'll find out in the long run..."
With the inception of the 2014 Farm Bill, I believe it is safe to say that crop insurance has become
a fundamental element of U.S. agricultural policy and the cornerstone of the farm safety net. I personally do not see this changing in the next Farm Bill.
It did not go unnoticed by those in agriculture that at the American Farm Bureau Federation's annual convention in Nashville President Trump was quoted as saying: "I'm looking forward to working
with Congress to pass the Farm Bill on time so that it delivers for all of you, and I support a bill that
includes crop insurance."
The support that crop insurance continues to receive from the Administration and both Houses of
Congress is humbling, to say the least. As we begin 2018, our industry must work diligently to continue to earn the support of our political leadership.
The progression of farm policy governed by risk management through crop insurance did not happen overnight. The enabling legislation was signed in 1938, and since that time, federally sponsored
crop insurance has gone through several iterations (perhaps most notably the 1980 and 1994 Acts)
before it became a central component of the 2014 Farm Bill. At each step in its progression, U.S. crop
insurance became a more effective risk management tool for the American farmer and a better deal for
the American taxpayer. Today, crop insurance protects 311 million acres on more than 130 different
crops, and there are 62,000 different county/crop/practice/type combinations for farmers to choose
from to get the best protection possible for their crops.
There is no denying that crop insurance has worked well since the 2014 Farm Bill was signed into
law. Congressional Budget Office projections for crop insurance are down nearly $10 billion since
the bill was enacted - in other words, we are coming in under budget. Farmers have stepped up to
Continued on page 24

CROPINSURANCE TODAY®

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Table of Contents for the Digital Edition of Crop Insurance Today February 2018