Latest Agribusiness Headlines
All the headlines from our Agribusiness Topic Page, ordered by recency.
ACE Reports $953 Million Q1 net Income; P&C Combined Ratio 88.2%
Apr 24 2013 // ACE Limited reported net income for the quarter ended March 31, 2013 of $2.77 per share – $953 million – compared with $2.84 per share -$973 million- for the same quarter last year. Operating income was $2.17...
Farmers to Close 21st Century Insurance Call Center in N.Y.
Apr 19 2013 // Los Angeles-based Farmers Insurance Group is continuing its integration effort with 21st Century Insurance, an auto insurance company it acquired from American International Group for approximately $1.9 billion in...
Rains Wash Away U.S. Drought, Shifting Farm Economy’s Prospects
Apr 19 2013 // Torrential downpours across a broad swath of the U.S. Midwest this week are easing the worst drought in more than 50 years, flooding streams, snarling river transportation, stalling corn plantings – and changing the...
What Did Regulators Know Before Texas Plant Exploded?
Apr 19 2013 // Despite being located within a short walk of a nursing home, school and residential buildings, West Fertilizer Co. in central Texas had no blast walls and had filed no contingency plan to the Environmental Protection...
Oklahoma Bill Limiting Liability for Agritourism Businesses Signed into Law
Apr 16 2013 // A measure protecting limiting the liability for agritourism operators in Oklahoma has been signed into law by Gov. Mary Fallin, according to the House of Representatives. State Rep. Scott Biggs, R-Chickasha and Sen. Ron...
Drought Poses Challenges New Mexico Chile Growers
Apr 16 2013 // The worst-ever Rio Grande drought is posing plenty of challenges this season for chile growers in New Mexico. The Las Cruces Sun-News reported that one challenge is groundwater that’s applied to crops in the absence...
ACE Launches Agriculture P&C Business
Apr 12 2013 // The ACE Group has formed ACE Agribusiness, an agriculture property and casualty insurance business. ACE Agribusiness is comprised of Penn Millers Insurance Co., acquired by ACE in 2011, and the Farm and Ranch division of...
Virginia Farm Bureau Ratings Downgraded by A.M. Best
Apr 11 2013 // A.M. Best Co. said Wednesday it has downgraded the financial strength rating of Virginia Farm Bureau Mutual Insurance Co. in Richmond, Va., and its subsidiaries to B++ (Good) from A- (Excellent). Additionally, Oldwick,...
President Obama Proposes Cuts in Crop Insurance Subsidy, Insurer Costs
Apr 10 2013 // President Barack Obama proposed reducing the most expensive part of the farm safety net by cutting the subsidy to farmers for buying crop insurance. At present, the government pays 62 cents of every $1 of insurance...
Best Affirms Ratings of Endurance Specialty and Subs; Outlook Stable
Apr 10 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Endurance Specialty Insurance Ltd. and its affiliates, as well as the ICR...
U.S. Aims to Reshape World Trade Rules with Regional Pacts Says VP Biden
Apr 10 2013 // The United States hopes to use a proposed regional free trade agreement in the Asia-Pacific and another with the European Union to reshape global rules for trade, Vice President Joe Biden said on Friday. “Our goal is...
Analysts Say Asia-Pacific Trade Talks Could Stretch Well into 2014
Apr 4 2013 // Free-trade talks between the United States and 10 countries in the Asia-Pacific region could stretch into late next year, especially if Japan joins the negotiations, former U.S. trade officials said on...
Georgia Residents Recall Tornado of 40 Years Ago
Apr 3 2013 // Like many people who lived in Athens, Georgia at the time, Anne Shepherd clearly remembers March 31, 1973 — the day the tornado hit. Shepherd, owner of downtown’s Chick Music store, had gone out to a house on North...
Insurance Covered Half of U.S. Disaster Costs in 2012: Swiss Re
Mar 27 2013 // Natural catastrophes and man-made disasters caused $186 billion in economic losses globally in 2012 and took approximately 14,000 lives, according to global insurer Swiss Re’s latest sigma study. The United States...
Swiss Re Study for 2012 Losses: $77 Bn Insured; $186 Bn Economic
Mar 27 2013 // Swiss Re has released its latest sigma study, which found that economic losses from natural catastrophes and man-made disasters reached $186 billion in 2012. Insured losses amounted to $77 billion, making 2012 the third...
Record Crop Claims Fuel Debate Over Government Subsidies for Farmers
Mar 25 2013 // Farmers will be paid a record $16 billion in crop insurance claims for 2012 because of the widespread drought, a staggering amount that has critics calling for changes to what they say is an inefficient taxpayer subsidy...
Farmers Brace for Crop Insurance Cuts
Mar 25 2013 // U.S. farm groups are looking for a formula to lower crop subsidy spending dramatically ahead of new congressional demands for cuts in a farm bill now costing $10 billion more than planned. The cuts could be larger than the...
Gowrie Group Names Equine Insurance Specialist in Rhode Island
Mar 21 2013 // Gowrie Group, an independent insurance agency based in Westbrook, Conn., appointed Kiley Prime as a personal lines and equine insurance specialist. She resides in Newport, R.I., and will service clients from the Newport...
Senate Votes $55M to Avoid Meat Inspector Layoffs
Mar 21 2013 // U.S. Senators agreed to shift $55 million in funds within the Agriculture Department on Wednesday to avert the layoff of all U.S. meat inspectors this summer due to federal budget cuts. On a voice vote, the Senate adopted...
Report: Japan PM Abe’s Pacific Trade Pact Gambit Pays Off, for Now
Mar 18 2013 // Japan’s Prime Minister Shinzo Abe’s first politically risky step of declaring the country’s intent to join talks on a U.S.-led Pacific Rim free trade pact appears to be paying off as his record high...
