The cost to taxpayers of the current crop insurance system has soared from $2.4 billion in 2001 to nearly $9 billion in 2011 as a result of high commodity prices and the generous premium subsidies that lead farmers to buy the most expensive insurance available.The Congressional Budget Office predicts that taxpayers will spend $90 billion over the next ten years on the highly subsidized insurance program – far more than $66 billion the CBO predicts will be spent on traditional farm subsidies.
Here is some recent EWG research on crop insurance and other new revenue insurance proposals.
Nation's Drought Highlights Need for Crop Insurance Reform
Crop Insurance: Bad for Taxpayers, Bad for the Environment
Government records show crop insurance subsidies are a boon to big farm interests.
Foreign insurance companies paid billions to run U.S. crop insurance program.
Giving it away for free: EWG proposal on how giving free crop insurance to farmers can save tax dollars and strengthen the farm safety net (PDF).
The Revenue Insurance Boondoggle: An agriculture economist analyzes the taxpayer funded windfall for agribusiness (PDF).
EWG fact sheet on problems for taxpayers with revenue insurance (PDF).
EWG fact sheet on tying conservation compliance to crop insurance (PDF).
GAO report on crop insurance (PDF).
The Case for Crop Insurance Reform by EWG's Craig Cox and Scott Faber.
EWG analysis of crop insurance policies and premium subsidies.
EWG analysis of the crop insurance industry and lobby.
EWG maps that show how high crop prices combined with unlimited insurance subsidies are contributing to the rapid loss of wetlands and prairie grasslands.
Six reasons to oppose House agriculture committee leader's farm bill proposal.
11 Champions: The senators who proposed farm bill amendments designed to ensure that our farm and food policies help more farmers, the environment and the hungry at less cost to the taxpayer.
Crop Insurance Subsidy Double Speak
Six reasons for members of the House Agriculture Committee to reject the farm bill proposed by Reps. Frank Lucas (R-Okla.) and Collin Peterson (D-Minn.).
