SERIES: The Experts in Our Field ft. Crop Insurance

Here’s All You Need to Know (about crop insurance, that is!)

By: Kelly Bailey, crop insurance specialist

So, you want to know what crop insurance is, why you need it, or how it came to be?  Let me share my thoughts with you.

The Federal Crop Insurance Program was first established in 1938, but due to the Crop Insurance Reform Act of 1994 which increased the demand for program participation, it became necessary for farmers to rely on private insurance companies for their crop insurance needs.  And we figured, who better to fill that need than an ag expert like Farm Credit?

Crop insurance is part of the Farm Bill (which is an agriculture hot topic right now) and as those programs, policies, and procedures change, crop insurance changes with it.  We lobby to make sure the changes don’t decrease your coverage when faced with crop loss.

Last year, there were 264 million acres of farmland protected through crop insurance. But, I bet you’re really wondering how such a large program impacts the local agricultural industry, right?  Well, in Maryland alone there were just over 900,000 acres of farmland insured and over $26 million was paid to the farmers in indemnities for both production and/or revenue losses. In Delaware, crop insurance protected $145 million of liability, with $8.8 million being paid to farmers for indemnities.

• So, you want to know why you need crop insurance and how it can benefit you? Consider this:
• Crop insurance makes sure you don’t suffer losses due to price or natural disaster.
• The programs are customizable to meet your individual needs and help protect you against revenue or production losses.
• Crop insurance can help with your marketing plans when it comes to settling forward contracts.
• Producers receive indemnities in a timely manner.
• Loan collateral – helps you increase your borrowing capacity. 

I think I’ve told you all you need to know (to get started), but do you want to know more? Visit farmcreditcropinsurance.com or tweet me @KellyBailey1103.  See you tomorrow to discuss why you should choose MAFC for your crop insurance needs.

SERIES: The Experts in Our Field ft. Crop Insurance

Meet the Experts, Part 2

At Farm Credit, we realize the risks you face each day and are here to help.  That’s why we’re expanding our crop insurance department to cover all of our territory.  We’ve also brought a couple new faces on board to help us serve you better.  So, without further a due, say “hello” to our crop insurance sales representatives:

Steve Grant.  Steve has been at Farm Credit for 35 years where he sells and services crop insurance in the Valley and Virginia territory.  He likes that insurance is reliable when the unfortunates of crop loss does happen.  Outside of work, he enjoys woodworking.

Jason Wisecarver.  Jason has worked for Farm Credit for 5 years.  Recently, he joined the department to sell and service crop insurance to the MidMD and Valley regions.  He loves giving farmers a little peace of mind, in good times and bad.  In his spare time, he likes to hunt, fish, and farm with his family.

Jordan Risser.  Jordan is new to Farm Credit and will be servicing and selling crop insurance in the Penn region.  He is really excited to get out there and help farmers manage their risks.  Outside of work, he enjoys farming, hunting, camping, and vacationing.

Now that you’ve met our whole department, tomorrow Kelly Bailey will be discussing the basics of crop insurance and why it is crucial for your farming operation.

SERIES: The Experts in Our Field ft. Crop Insurance

Meet the Experts, Part 1

You know the old saying – if you fail to plan, you plan to fail.  And as farmers, you know nothing could be truer when it comes to your farming operation.  Risk management is a factor that all farmers face, but crop insurance could be your golden answer.  Let us introduce you to our crop insurance department:

                                    

Tom Truitt, senior vice president of Valley region and crop insurance department.  Tom has been here for 19 years and likes taking on new challenges and capitalizing on opportunities.  At home, you can find him running, travelling, or spending time with his family.

Kathi Levan, our crop insurance manager.  Kathi has worked at Farm Credit for 12 years and is responsible for supervising and managing the department members.  She believes in forming relationships with customers to become trusted partners.  In her spare time, she enjoys quilting and reading.

Teresa Gleockler, crop insurance specialist.  Teresa has been servicing current crop insurance customers for 5 years.  She loves working with farmers to help them understand the workings of their policies.  Outside of work, you can find her spending time with her daughters.

Kelly Bailey, crop insurance specialist.  Alongside Teresa, she has been servicing current crop insurance customers for 1.5 years.  She thinks it’s a great feeling to help customers with risk management.  In her spare time, she likes to travel and spend time with her family.

Be sure to stop back by tomorrow to meet our crop insurance sales representatives.