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 - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
... [Read Article]
Latest Ad:
1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
[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.
