Rickey Bearden, a Plains, Texas, cotton producer, met with the Federal Crop Insurance Corp. (FCIC) Board of Directors as part of a panel of commodity organizations invited to discuss important, industry-related crop insurance issues.
Bearden encouraged the Risk Management Agency (RMA) to look for ways to move insurance rating and experience to a more individual history vs. county experience, to develop a good grower discount policy, and to continue to investigate new and innovative products that could offer better and more affordable risk management opportunities for cotton producers.
During his presentation, Bearden reminded FCIC of the industry’s primary goal – access to a product that provides adequate protection from weather-related production losses at affordable prices. He offered the NCC’s services to RMA as it undertakes a complete cotton policy review.
Bearden also said that while the cotton industry strongly supports a viable federal crop insurance program, it does not support it as a delivery system for farm program benefits. Rather, he stated, it should continue to be a separate, voluntary program.