Latest Agribusiness Headlines
All the headlines from our Agribusiness Topic Page, ordered by recency.
Munich Re 2012 Cat Report Underscores Extreme Weather in U.S.; Sandy Losses
Jan 3 2013 // The figures for natural catastrophse that occurred in 2012 are “dominated by weather extremes in the USA,” according to a report from Munich Re. The reinsurers said the U.S. “accounted for a higher...
Colorado University Seeks Farmers’ Experience With Drought
Dec 31 2012 // Researchers at Colorado State University want to hear from farmers across the state who have been affected by this year’s drought. The Fort Collins Coloradoan reported CSU agricultural economists want to gauge the...
Farmers Agents Sue Carrier Over Contracts, Taking Client Info
Dec 27 2012 // A group of Farmers Group Inc. agents have filed a lawsuit in Los Angeles Superior Court alleging the Los Angeles, Calif.-based carrier has undercut them by sharing their data with a competing subsidiary and several...
N.C. Farmer Pleads Guilty to Million Dollar Crop Insurance Fraud
Dec 26 2012 // Federal authorities announced last week that a North Carolina farmer pleaded guilty to conspiracy to commit fraud on the federal crop insurance program for payments worth over $1 million. According to authorities, Harry...
Issuer Credit Ratings of Grinnell Mutual Reinsurance Co. Downgraded
Dec 20 2012 // A.M. Best Co. has downgraded the issuer credit ratings (ICR) to “a” from “a+” and affirmed the financial strength rating (FSR) of A (Excellent) of Grinnell Mutual Reinsurance Co. (Grinnell) and its...
Zurich Estimates Sandy Losses at $700 Million; $40 Million for Farmers Re
Dec 18 2012 // Zurich Insurance announced that it currently estimates aggregate claims net of reinsurance of about $700 million relating to Storm Sandy. “This includes $40 million related to Farmers Re in connection with the...
Crop Insurance Juicy Target in ‘Fiscal Cliff’ Deal
Dec 17 2012 // Rural lawmakers worry that $9 billion in annual federal crop insurance subsidies are an easy target for spending cuts in a “fiscal cliff” deal so they’re shopping around for a late compromise on a farm...
Critics Call for More Cuts in Farm Bill, Crop Insurance
Dec 10 2012 // Congress should slash at least $100 billion in costs from the U.S. farm bill – three or four times more than cuts currently proposed – and resist calls for a hurry-up vote this week, a dozen anti-deficit and...
Alabama Insurer Alfa Seeks to Reverse Business Decline
Dec 10 2012 // The new president of the Alabama Farmers Federation and Alfa Insurance is fine with where the sister organizations are politically. It’s the huge drop in insurance customers he wants to change. Chilton County farmer...
Time Running Out for Senate on Farm, Crop Insurance Bill
Dec 7 2012 // With a week left to act, agricultural leaders in Congress are still deadlocked on two major issues for a new U.S. farm bill, cuts in crop subsidies and reductions in food stamps, said two of the four key negotiators on...
Univ. of Rhode Island Gets $206K Grant for Crop Insurance Education
Dec 6 2012 // The University of Rhode Island has been awarded a $206,000 federal grant to help educate the state’s agricultural producers on crop insurance. U.S. Rep. Jim Langevin announced the grant from the U.S. Department of...
Thai Group Buys Ping An Stake from HSBC for $9.38 Billion
Dec 5 2012 // A conglomerate controlled by Thailand’s richest man, Dhanin Chearavanont, has bought a minority stake in China’s Ping An Insurance for $9.38 billion from global bank HSBC, a bold move that ranks as Asia’s...
South Carolina Names Lobbyist Farmer as Insurance Chief
Dec 3 2012 // South Carolina Gov. Nikki Haley has named Ray Farmer as the state’s new insurance regulator. Farmer is a lobbyist with the property/casualty insurance trade group, the American Insurance Association. Farmer replaces...
Congressional Leaders Push to Pass Farm, Crop Insurance Bill
Nov 30 2012 // With time running out, agricultural leaders in Congress vowed on Thursday to do everything they can to pass a farm bill that cuts spending by at least $23 billion – savings that could assure support by lawmakers...
Colombia to Offer Climate Change Insurance to Coffee Farmers
Nov 29 2012 // Colombia is launching insurance to protect coffee plantations hit by climate change, which has damaged output in the world’s top producer of high quality Arabica beans in recent years, officials said on...
Ohio Officials Working to Get Exotic Pets Registered
Nov 26 2012 // State officials continue to work with owners of exotic animals to help them fully register their creatures with the Ohio Department of Agriculture, even though the state deadline for them to submit information was several...
Endurance Acquires Galileo Weather Risk; Launches Global Weather Service
Nov 21 2012 // Bermuda-based Endurance Specialty Holdings Ltd. announced that it has acquired the assets of Galileo Weather Risk Management, a provider of weather risk management products and services, and has hired all of its employees....
Business Moves – Midwest
Nov 19 2012 // Arthur J. Gallagher, Coyle Insurance Agency, Unison Inc., Aires Consulting Group Arthur J. Gallagher & Co. recently announced acquisitions of three Midwest-based firms — Coyle Insurance Agency Inc., Unison Inc....
Federal Food Safety Program to End in Minnesota
Nov 16 2012 // Minnesota agriculture officials are phasing out a federally funded program that allows them to test produce for contaminants like E. coli and salmonella. The U.S. Department of Agriculture’s Microbiological Data...
South Carolina Names Insurance Lobbyist Farmer as Insurance Chief
Nov 13 2012 // Ray FarmerSouth Carolina Gov. Nikki Haley has named Ray Farmer as the state’s new insurance regulator. Farmer is a lobbyist with the property/casualty insurance trade group, the American Insurance Association. Farmer...
