I fondly remember my first Federal Crop Insurance seminar I attended with my dad back in 2002. My dad introduced me to the Regional President, Steve W, of the Crop Insurance company we were working with, and Steve shook my hand and told me, "Welcome to the business of National Security."
I had no idea what Steve was talking about. I thought I was entering the world of insurance sales, and not National Security? After all, we were only selling Crop Insurance to Farmers. How complicated could it be? If I only knew then what I know now I might have ran out of the room!
Federal Crop Insurance is a Federally subsidized insurance program for America's Farmers that was first enacted by Congress in 1938 by the passing of the Federal Crop Insurance Act. However, the program did not see wide spread adoption until 1980 when Congress passed important legislation that made the program more affordable for America's farmers.
My grandfather and my dad, Leo & Reed, started our agency in October of 1979 as they were anticipating an important change to the program. and wanted to be at the forefront of this new and exciting Federal Program.
Since 1980 the Federal Crop Insurance program has grown to cover approximately 128 crops, soon to include Hemp, and has enrolled hundreds of millions of acres. The program has become The risk management tool for America's farmers. Without it, many family farms would not be here today. This program is protecting the American farmer, and our domestic food supply. In other words, it's a matter of National Security.
What's that got to do with Hemp Crop Insurance?
The 2018 Farm Bill has made Hemp legal* for producers to grow, but they have not written the rules and regulations yet as to how Hemp Crop Insurance policy will work. While we are waiting for the Feds to decide I thought it would be a good idea to learn more about what Federal Crop Insurance is for Farmers, and what it means to my agency.
I hope you will follow along, and learn something that can help your operation better manage risk, and grow beyond your wildest dreams. Welcome to the future of McMeel Insurance, and to the future of farming...cannabis.
*Each State has their own definition of "Legal" Hemp seed to be used for growing. Make sure you check with your local Agricultural administrators to find out what you can and cannot grow.