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CRF Blog » Blog Archive » Climate Corp. Updates Crop Insurance via High Tech

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Climate Corp. Updates Crop Insurance via High Tech

by Bill Hayes

In Climate Corp. Updates Crop Insurance via High Tech, Bloomberg Businessweek reports on a company’s new approach to crop insurance.

Historically, farmers have relied on crop insurance sold by the federal government. The program is rife with all the red tape bureaucracies are famous for. Farmers must plant their fields on a schedule determined by the government and consent to inspections. To estimate crop value, they have to record and turn over years’ worth of data about yields. When disaster hits, claims take months to process, and the payout often only covers costs, not lost profits.

Climate Corp. has a different approach. [more]