Proposed cuts to crop insurance program subsidy draw criticism

01/21/2010 | PropertyCasualty360

The subsidy cuts proposed by the U.S. Agriculture Department and Risk Management Agency to the crop insurance program are unreasonable and could result in more consolidation in the dwindling industry, said Robert Parkerson, president of National Crop Insurance Services. The reductions could adversely affect industry earnings, "sharply reducing the incentives companies have to maintain investments in the industry in order to adequately service all producers," he added.

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