Latest Agribusiness Headlines
All the headlines from our Agribusiness Topic Page, ordered by recency.
Kentucky Lawmakers Tackle Details of $100M Tobacco Settlement
Mar 13 2015 // State lawmakers are trying to figure out how to enforce the terms of a settlement reached with the nation’s largest tobacco companies. What’s at stake: About $100 million in state revenue every year that pays...
Insurance Fraud Leads to Prison Sentence for North Dakota Farmers
Mar 11 2015 // Two North Dakota brothers have been sentenced to prison time and ordered to pay back more than $900,000 for intentionally destroying potatoes to collect federal farm insurance payments. In separate hearings, U.S. District...
Dead L.A. Stadium $5.8M in Free Publicity for Farmers
Mar 11 2015 // Farmers Insurance Group received nearly $6 million in free media exposure for putting its name on a downtown Los Angeles stadium that will never be built. Anschutz Entertainment Group this week announced that it was no...
Arnold Promoted in ACE Agriculture’s Iowa-Based Rain and Hail Division
Mar 11 2015 // ACE Group appointed Scott Arnold as deputy division president of Rain and Hail, a division of ACE Agriculture based in Johnston, Iowa. Arnold was previously executive vice president of Rain and Hail field operations, where...
A.M. Best Downgrades Ratings of South Carolina Farm Bureau Group Members
Mar 11 2015 // A.M. Best has downgraded the financial strength rating to B+ (Good) from B++ (Good) and the issuer credit ratings to “bbb-” from “bbb” of South Carolina Farm Bureau Mutual Insurance Co. and Palmetto...
Texas Commissioner Files Revised Farmers Insurance Refund Settlement
Mar 10 2015 // On the heels of a recent multi-million dollar refund agreement with the state’s largest homeowners insurer, Texas Department of Insurance Commissioner David Mattax announced a revised settlement with the second...
Crop Insurance Guarantees to Drop: Analysts
Mar 4 2015 // Crop insurance price guarantees for U.S. corn, soybeans and spring wheat in 2015 will fall 10 percent or more based on futures settlement prices for February, grain analysts said on Friday. The U.S. Department of...
Crop Insurance Deadline Nears for West Virginia Farmers
Mar 4 2015 // A deadline is approaching for West Virginia farmers to buy insurance for crops planted in the spring. March 15 is the closing date to either buy crop insurance or change an existing policy. The U.S. Department of...
USDA Seeks Crop Insurance Products for Specialty Crop, Fruit, Vegetable Growers
Mar 2 2015 // The federal crop insurance program would be extended to growers of specialty crops, fruits and vegetables as well as other farmers who have not had access to policies under new rules proposed by the U.S. Department of...
ACE Launches Pollution Liability Coverage for Agriculture Risks
Mar 2 2015 // ACE Group has introduced a new agriculture premises pollution liability coverage that provides limited pollution liability protection in conjunction with ACE’s Agribusiness Commercial general liability policy. The...
1st Cayman Portfolio Insurance Company Formed by Ascension Insurance
Feb 25 2015 // The first portfolio insurance company (PIC) has been formed in the Cayman Islands, as a direct result of new insurance regulations Cayman enacted in January to provide risk management alternatives for insurers incorporated...
Australia Cyclone Causes Power Cuts, but Spares Miners, Farmers
Feb 23 2015 // Commodities producers were spared the full wrath of a powerful cyclone that smashed into the east coast of Australia packing winds up to 285 kph (175 mph), but thousands of coastal residents on Monday faced a third day...
Risky Business: How Agents and the Industry Help Protect Farmers, Ranchers
Feb 23 2015 // When you think of hazardous jobs, what comes to mind? First responders, military professionals, even NFL football players are typically associated with some of the most dangerous jobs on earth. But what about farmers and...
Farmers Settles Suit with Radiological Firms Over Alleged Billing Fraud
Feb 11 2015 // Los Angeles, Calif.-based Farmers Insurance Exchange has reached a settlement in a lawsuit involving alleged billing fraud by two radiological companies and their owners. The complaint alleges that two radiological...
Oil-Tainted Feed Suspected in Death of 50K Turkeys in Michigan
Feb 11 2015 // Federal officials are investigating how feed likely contaminated with oil intended for industrial uses ended up killing 50,000 turkeys on a western Michigan farm in August. State scientists at a January meeting of the...
A.M. Best: Outlook Stable for Oklahoma Farm Bureau Mutual
Feb 11 2015 // A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating of B- (Fair) and the issuer credit ratings of “bb-” of the members of Oklahoma Farm Bureau Group: Oklahoma...
Disaster Declaration For Most of Nevada Due to Drought
Feb 9 2015 // The U.S. Agriculture Department has declared most of Nevada a natural disaster area due to lingering drought. And state water officials say more trouble is brewing for ranchers and farmers in western Nevada where cutbacks...
Legislation Addressing Property Claims Litigation Likely to Crop Up in Texas
Feb 9 2015 // By the end of 2008, the Texas residual market for insuring seacoast properties for wind and hail figured it had enough resources available to pay claims for both Hurricane Ike and Hurricane Dolly that hit the Texas coast...
Aon Benfield/Impact Forecasting Jan. Cat Report Highlights Winter Storms
Feb 6 2015 // The latest edition of Impact Forecasting, Aon Benfield’s catastrophe model development team’s, Global Catastrophe Recap report, evaluates the impact of the natural disaster events that occurred worldwide during...
Report: Modest Economic Growth Expected in Midwest, Plains
Feb 3 2015 // Weakness in the agriculture and energy sectors will slow the economy in nine Midwestern and Plains states this spring, according to a monthly survey of business leaders released Feb. 2. The region’s overall economic...
