Federal agriculture officials are looking at the possibility of a national insurance program to permit ranchers to insure both pasture and rangeland against losses resulting from drought and other disasters, according to the Associated Press.
Currently, a pilot program in Montana offers such insurance in a dozen counties, with growing interest emerging to expand the program on a broader scale.
More than 500 producers are taking part in the pilot program, allowing ranchers to buy insurance that pays if land set aside for grazing livestock is ruined by drought, fire, hail or insects.
Topics Agribusiness
Was this article valuable?
Here are more articles you may enjoy.
Florida Supreme Court Ruling Could Mean New Pressure to Settle High-Dollar Lawsuits 
Why Are Property & Casualty Carriers So Profitable? 
Intersecting Risks and the Future of Construction Insurance 
Viewpoint: Boom in Hyperscale Data Centers Puts Re/Insurers to the Test 
