“In the Cloud” means something different to Ag Producers. In Technology “in the cloud” refers to storing computer data rather than rainfall or something worse. Agriculture Producers love to see clouds with gentle rainfall, but wind, hail, or violent storms are worrisome as crop production can be effected.
In fact, many damaging perils are possible each growing season. As a safety net Risk Management Agency (RMA) a division of USDA offers Multi-Peril Crop Insurance (MPCI). This foundation of protection offers a percentage or chosen level of crop insurance to provide from 50% to 85% coverage based on a producers Average Production History (APH).
All Ag Producers (including land owners) usually qualify for this coverage that is supplemented by farm legislation.
The MPCI Insurance Products are offered by Private Insurance Providers with Standard Reinsurance Agreements by the US Government through USDA. Premiums are based on APH historical rating (the loss history compared to County Averages), Coverage Level Subsidies, and other factors. Private Insurance Agencies deliver the program directly to Ag Producers.
Assiter AG-Risk LLC and is proud to be one of the agencies specializing in Crop Insurance and Ag-Risk Strategies.
Producers have various protection needs, some very simple and others complex to cover more exposure to perils causing crop loss.
Our Case Study, FSA and Farm Programs describes some of the factors involved in developing a complete Ag-Risk Strategy starting with the programs in the 2014 Agricultural Act (Farm Bill).