US crop insurers accept $6bn subsidy cut
US crop insurers have agreed a deal with the US Department of Agriculture (USDA) that will see federal subsidies cut by $6bn over the next decade.
Agriculture Secretary Tom Vilsack announced yesterday that all 16 companies that participated in the 2010 scheme have signed agreements for 2011 accepting the new terms.
US crop insurers receive federal subsidies, including access to federal government-backed reinsurance, as part of the Department of Agriculture's attempts to ensure that all farmers have access to affordable...
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