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EWG report calls for free crop insurance plan

The Environmental Working Group released a report today calling on Congress to replace the current crop insurance program with a free program that would cover 70 percent of crop yield and and compensate producers for a financial loss caused by bad weather at 100 percent of current market prices.

EWG also said that "at minimum," Congress should reduce or end premium subsidies for revenue protection policies, cap the amount of premium subsidies per farm, reinstitute conservation compliance for crop insurance and make the identifies of individual and other entities participating in crop insurance public and report the amounts of premium subsidies.

The report was written by Bruce Babcock, a professor of economics at Iowa State University. It was financed by the Walton Family Foundation, the McKnight Foundation, and online donations.