Crop Insurance Program Envy of the World
April 5th, 2007 by David Graves
The modern federal crop insurance program is such a huge success that it is the envy of the world. Other nations, such as France and Japan, have reviewed our crop insurance system and are starting their own programs. In recent years, especially since passage of ARPA in 2000, USDA has routinely testified before Congress that the federal crop insurance program is highly successful, especially in increasing the number of acres insured and the level of protection or coverage per acre. For the 2006 crop insurance year, the federal crop insurance program provided about 50 billion dollars of protection—a record level of coverage at that time. For the 2007 crop insurance year, projections indicate that farm risk protection will likely exceed 60 billion dollars.