**This course will not focus on policy selection, coverage levels or other matters best answered by crop insurance agents or adjusters and no specific companies or products will be recommended. The purpose is to create more knowledgeable consumers.**
Most farmers purchase crop insurance, the University of Southern Indiana's program is designed to help better understand this critical component of modern agricultural production. According to the USDA, about 83 percent of U.S. crop acreage is insured under the Federal Crop Insurance Program. The program is overseen by the Federal Crop Insurance Corporation (FCIC) which is a corporation owned by the federal government.
Participants in this course will get a behind the scenes look at the program and the role of private and governmental participants. They will gain knowledge on the relationship between the private insurance companies, their managing general agencies (MGAs), the FCIC, the Risk Management Agency (RMA) and the private reinsurers that are the foundation of the program.
Participants will also learn the difference and similarities of Price Risk and Yield Risk. There are traditional ways of dealing with both, practicing good agronomy and making good selling decisions. Crop insurance does both via a financial instrument that is backed by the federal government. We will explore the risk transfer stages and how the federal government determines subsidies and producer participation as well as the role of agents and adjusters.
The course will be broken out into the following topics:
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