A new analysis released this week by the Land Stewardship Project shows that corporations are benefitting from federal crop insurance at the expense of the public. LSP member and Redwood County Minnesota farmer Paul Sobocinski says there’s a lot of money being doled out to large corporations In a non transparent way.
Sobocinski says their data which is based on government data and interviews with farmers across Minnesota also shows a large amount of money being paid to large insurance companies.
He says crop insurance is an important safety net for farmers but the present system needs to be changed so producers and not large corporations benefit.
Sobocinski says the Land Stewardship project will be releasing two more white papers in the future, one on the big getting bigger and the other on how crop insurance affects the next generation of farmers.