Introduced by Representatives Botzow of Pownal, Bartlett of Dover, Branagan of Georgia, Copeland-Hanzas of Bradford, Dunsmore of Georgia, Gervais of Enosburg, Johnson of South Hero, Johnson of Canaan, Keenan of St. Albans City, Kiss of Burlington, Lawrence of Lyndonville, Livingston of Manchester, Malcolm of Pawlet, Martin of Springfield, Miller of Shaftsbury, Monti of Barre City, Nuovo of Middlebury, Orr of Charlotte, Randall of Troy, Rusten of Halifax, Shand of Weathersfield, Trombley of Grand Isle, Winters of Williamstown and Zuckerman of Burlington
Subject: Agriculture; farm insurance
Statement of purpose: This bill proposes to authorize a study and report on the insurance problems of farmers and the potential solutions to those problems to be performed by the agency of agriculture, food and markets with the cooperation of the department of banking, insurance, securities, and health care administration and the department of labor and industry.
AN ACT RELATING TO INSURANCE PROBLEMS FACING THE AGRICULTURAL INDUSTRY OF VERMONT
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. FINDINGS
(a) The General Assembly finds that the increasing cost of insurance is a huge problem for the economic well-being of Vermont farm enterprises. The costs of health, workers’ compensation, and property and casualty insurance continue to rise at double digit percentage rates annually.
(b) The General Assembly further finds that the availability of insurance is causing major difficulty for the agricultural industry. Fewer companies are willing to offer insurance to this industry, and those companies that do are requiring high deductibles at very high rates.
(c) Therefore, the general assembly finds that to help preserve Vermont’s farms, solutions to these insurance problems must be found.
Sec. 2. STUDY; REPORT
(a) The agency of agriculture, food and markets in cooperation with the department of banking, insurance, securities, and health care administration and the department of labor and industry shall study the insurance problems experienced by Vermont farmers and develop possible solutions. The study shall also examine the experience of other states and consider coordinating with other states and with existing state programs, such as the Vermont Health Access Plan.
(b) The agency of agriculture, food and markets shall submit a report on the farm insurance problem and solutions to the general assembly, the house and senate committees on agriculture, the house committee on commerce, and the senate committee on finance on or before December 15, 2005.
The Vermont General Assembly
115 State Street