Use to be called Federal Crop Insurance, now Multi Peril Crop Insurance (MPCI)
It was originally legislated in 1935 because of the thinking that catastrophic crop losses were, you guessed it, "too big" for private industry to tackle.
It kinda drifted along with 5 or 6% participation until the Crop Insurance act of 1980.
Guess what, they "reformed" it. But it really started out pretty straight forward and simple. One of the key aspects was that it was supposed to be actuarially sound, ie. the premium paid by the farmer, plus the government subsidy was supposed to pay for the losses. I understood every part of it, could recite the policy word for word, etc.
So over the years it has been "reformed" about a dozen times, actuarial soundness went out the window in about 1995 or so, then came in all sorts of crop policies with bells and whistles, new coverages, prevented planting, replant, etc.
But then some folks were dishonest, other folks got jealous that someone might legitimately collect from two failed crops in the same crop year.
Enter Fraud, Waste and Abuse rules and millions upon millions in computers, programs and people to catch a few scumbags. But wait, some crop agents might have written a policy on their second cousin, enter Conflict of Interest rules And on and on and on.
It is now the most complicated, technical, convoluted program. I don't think there are 25 people in the entire US that honestly understand every aspect of the program. And like the Energizer bunny it just keeps going.
Crop insurance just affects a small percentage of the US population. You dont want to see how bad they mess up something as big as health care!
Oh, and everyone keeps badmouthing ins. companies because of pre-existing conditions. Like them or not, they are a business and need to make money. Profit is not a bad word. And I feel terrible for folks that have those problems, but try buying insurance on your barn once it is already on fire.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
... [Read Article]
Latest Ad:
Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.