Extension Risk Management and Crop Insurance Teaching Program for Colorado, Kansas and Nebraska.

Extension Risk Management and

Crop Insurance Teaching Program

for Colorado, Kansas and Nebraska

Presented atthe

2003National Extension Risk Management Education

Conference

Dallas, TXMarch 26 – 27, 2003

Dr. Norm DalstedDepartment of Agricultural and Resource Economics

Colorado State University

Dr. Art BarnabyDepartment of Agricultural Economics

Kansas State University

Dr. Doug JoseDepartment of Agricultural Economics

University of Nebraska, Lincoln

Presented by:

Risk Management Workshops Planning Committee

Representatives of all crop insurance companies in Colorado, Kansas and Nebraska.

The program developers from the 3 universities.

Organization

• 1 workshop in each state

• Planning committee meets in May

• Workshops in November

• Planning committee members make speaker contacts

Organization cont’d.

• One brochure - individual state registrations

• NCIS does mailings to agents in designated areas

• States do mailings to other lists such as lenders

Funding

• Initial RMA funding of $5,000 per institution.

• Programs were continued for 2000-2002 on funds generated by registrations.

Participants Receive

• Notebook with workshop handouts

• Lunch

• Continuing Education Credit

• Each state pays the respective State Insurance Departments to be a certified continuing education provider

• Registration fees - $65 and $90 for late registration

The first seminar entitled:

“Use of Crop Revenue Insurance and

Marketing Tools to

Assist Great Plains Farmers”

Nearly 400 crop insurance agents, lenders, and farmers attended the three seminars in 1999.

In 2000 – 2002 average attendance has been 300 – 400 participants.

Continuing education credits were offered in the

following states

Colorado Kansas

Nebraska Oklahoma

South Dakota Wyoming

• Continuing Education Credits were also offered in 2000, 2001, and 2002

1999 Program:

Will Revenue Insurance

and

Marketing Tools Help Growers

Weather the Current

“Farm Crisis?”

Future Public Policy Changes

Crop insurance reform legislation was being debated

Marketing strategies and tools for farmers

1999 Topics:

1999 Topics cont’d

Combining Crop Insurance and Price Risk Management Tools

Case problem with government programs, marketing tools and crop insurance

Will These Tools Work on the Farm?

Farmer Panel

Does Setting Goals Work with Limited Resource Farmers?

2000 Program:

MANAGING RISK

UNDER THE

CROP INSURANCE REFORM LAW

2000 Topics

• Legislative Update by Congressional Aids

• Working with the Next Generation of Farmers

• Risk Returns Under Financial Leverage

2000 Topics cont’d.

Fitting Options, Forward Contracts and Futures Into Your Crop Insurance Plan

Making Tools Work at the Farm LevelPanel of Grower, Lender, Crop

Insurance Agent

Internet Crop Insurance Sales

2001 Farm Bill Survey,

“ What Do Farmers Want?”

2001 Program:

2001 Topics

Results of the Farm Bill Survey

The Farm Bill and Items That Will Effect Crop Insurance

Legislative Update

2001 Topics cont’d.

Fraud, Waste and AbusePanel of NCIS, RMA and FSA

Representatives

Lending and New ProductsCompany Representative and Lender

Using Risk Management Tools, A Case Study

2002 Program:

CHALLENGES FACING

CROP INSURANCE

AND

RISK MANAGEMENT WITH

THE NEW FARM BILL

2002 Topics

Understanding the New Farm Bill

Is it Going to Rain in 2003 - Analysis of Weather Patterns

2002 Topics

RMA PresentationsControlling Fraud & Abuse;

Current Great Plains Crop Insurance Issues

Washington Legislation Concerning Crop Insurance

RA-HPO verses CRC

Whole farm safety net

Crop insurance actuarial soundness

The Impacts of Drought on Agriculture: A Lender’s Perspective

Crop Insurance Challenges for the Great Plains

2002 Topics cont’d.

Evaluation

• Workshop Evaluations have been 6.0 to 7.0 on a scale of 1 - 9

• On average each insurance agent works with approximately 100 clients.

• Therefore the educational effort impacts approximately 35,000 farmers and ranchers in the Central Plains region each year.

Results

• Insurance agents and companies have continued to support this training effort

• Continued educational endeavor is provided to a unique audience

•Demonstrates a multi-university educational effort

•This extension educational program is entirely self-funded

Results

cont’d