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

Presented at the 2003 National Extension Risk Management Education Conference Dallas, TX March 26 – 27, 2003

Dr. Norm Dalsted Department of Agricultural and Resource Economics Colorado State University Dr. Art Barnaby Department of Agricultural Economics Kansas State University Dr. Doug Jose Department 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 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  In 2000 – 2002 average attendance has been 300 – 400 participants.

Continuing education credits were offered in the following states ColoradoKansas Nebraska Oklahoma South DakotaWyoming 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 Level Panel 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 Abuse Panel of NCIS, RMA and FSA Representatives Lending and New Products Company 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 Analysis of Weather Patterns

2002 Topics RMA Presentations Controlling 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 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