|
|
|
|
|
Congressman Randy Neugebauer has reintroduced his crop insurance bill in an effort to provide an additional risk management option for farmers and reduce the need for ad-hoc disaster payments.
He introduced the Risk Management Enhancement Act in June of 2004, but it was not considered before Congress adjourned last year. The Risk Management Enhancement Act would allow producers to get more protection against widespread drought and storm losses for a relatively small increase in premium. Neugebauer's proposal builds added risk protection into crop insurance by allowing farmers to stack Group Risk Protection (GRP) coverage on top of an individual Multi-Peril Crop Insurance (MPCI) policy. Farmers can choose to purchase GRP coverage up to the deductible portion of the individual policy, not to exceed 100 percent.
