Crop insurance to be sold online

Producers Lloyd Insurance Company and the Rural Community Insurance Company (RCIC), have become the first insurers to have their plans to sell crop insurance over the internet approved by the US Department of Agriculture (USDA) since the E-File Act was signed into law in June. Producers Lloyd operates in Oklahoma, Texas and New Mexico while the RCIC provides cover across the US. The new act allows farmers to obtain crop insurance cover over the internet from USDA approved insurers. According to the USDA’s Risk Management Agency, the full panel of internet crop insurers and all the relevant systems will be in place by the end of next year.