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.
Rivian Agrees to Pay $250 Million to Settle IPO Fraud Lawsuit 
US Saw Record $101 Billion in Weather Losses Through June 
GEICO Sues Medical Firms in Florida, NY Over Alleged No-Fault Auto Fraud 
Trucking App Trucker Path Launches Retail Insurance Agency 
