Ernst Amplifies Iowan’s Testimony on Importance of Crop Insurance

WASHIGNTON – U.S. Senator Joni Ernst (R-Iowa), a member of the Senate Agriculture Committee, spoke with Iowa native Caleb Hopkins about the importance of crop insurance as a tool for farmers in a hearing on risk management, credit, and rural business.

During the hearing, Ernst described the importance of federal crop insurance in providing certainty for Iowa farmers, especially in the face of natural disasters.

“Crop insurance is the most effective and reliable risk management tool available to farmers that must remain affordable and accessible,” said Senator Ernst. “Over the years, Congress has approved multiple rounds of ad hoc disaster payments to help farmers recover from severe weather events. While these payments offer relief in times of crisis, they are slow, they are unpredictable, and subject to political gridlock – leaving farmers uncertain about when or if help will actually arrive. Iowa farmers – who have faced multiple natural disasters in recent years – have made it clear that they need certainty and protection in real time, not months or years after the damage is done.”

Click here to watch Senator Ernst’s questioning.

Ernst introduced Hopkins, who testified before the committee about his experience with crop insurance in his role as a loan production officer.

“Crop insurance is the number one risk management tool in the belt for ag lenders. It is a tool that also puts the power back in the producer’s hands,” said Hopkins. “That level of certainty helps bankers make that decision as we look at renewing operating lines. Reference prices combined with crop insurance are the two most important tools that bankers have.”

Click here to watch Senator Ernst introduce Hopkins.

Background:

Caleb Hopkins is a loan production officer for Dakota Mac, a subsidiary of First Dakota National Bank in Yankton, South Dakota. Prior to joining the Dakota Mac team, Caleb worked for a community bank in west central Iowa as chief lending officer where he was instrumental in implementing a successful secondary market program for ag loans to help producers better manage their interest rate risk. He lives in Halbur, Iowa with his wife and three children where they raise purebred Hereford cattle and manage a crop insurance agency focusing on risk management products for both row crop and livestock producers.

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