training in risk management tools: providing crop insurance and financial education to under-served...

Training in Risk Management Tools:

Providing Crop Insurance and Financial Education to Under-

Served Producers

Albert E. EsselVirginia State University

Collaborators

Laurence Crane Albert Essel Kevin Klair Dale Nordquist

Collaborating Institutions

Virginia State University Center for Farm Financial Services,

University of Minnesota National Crop Insurance Services

Goals of Training Program

To help limited resource farmers effectively manage their farm businesses by:

Providing farm business management tools to educators of limited resource farmers

Providing training to use tools effectively

Objectives:1. To conduct Financial Management and

Crop Insurance training for educators and agricultural professionals who serve underserved producers.

2. To organize a leadership team to support educators who serve underserved producers in risk management

Objectives:

3. To increase producer awareness and knowledge of risk management tools

4. To provide training and technical assistance for producers to improve their ability to use tools to manage risks.

Target Audience

Producers

African Americans Hispanics Native Americans Women Limited Resource Other Underserved

Educators

1890 Universities 1994 Colleges Hispanic Serving 1862 Universities Comm. Based Orgs. Agric. Professionals

States & Territories with Participants Trained

Alabama Arizona Arkansas California Florida Georgia Kentucky Louisiana Maine Maryland Massachusetts Mississippi

Montana Missouri North Carolina Oklahoma Pennsylvania Puerto Rico Tennessee Texas Virginia Virgin Islands West Virginia Wisconsin

Program Content

Financial Planning Business Planning Crop Insurance

Program Delivery

Nationwide Promotion of program to target populations (Educators)

Registration Fee Travel Scholarships for Participants Provide laptop computers to

participants

Delivery Methods

Workshops Computer-based Hands-on

Training Case Studies

Program Delivery - 2003

Conducted a 2.5 day workshop in: Petersburg, VA Baton Rouge, LA Albuquerque, NM

Program Delivery - 2004

One 2.5 day workshop in Atlanta, GA

Two 2.5 day Advanced workshops in Petersburg, VA

Leadership Meeting in Petersburg, VA

Program Delivery – 2005

Focus on Producers Farm Management Association in VA Producer Meeting in Pine Bluff, AR Producer Meeting in Tuskegee, AL

The Tools

FINPACK

FINPACK Business Plan

Crop Insurance manual and training from industry representatives

FINPACK & Crop Insurance Training

BASIC TRAINING – ATLANTA, GA

APRIL 2004

FINPACK & Crop Insurance Training

ADVANCED TRAINING – PETERSBURG, VA

MARCH & MAY 2004

Mobile Computer Lab: Producer Training

VSU Mobile Computer Lab:Business Planning &

Recordkeeping

12 networked-computer stations plus an instructor’s station

Program Results

Outstanding evaluations

Lots of enthusiasm to use the tools and materials to help limited resource producers

Challenges

Despite the enthusiasm, follow up surveys indicate each participant used FINPACK with 1.85 farmers and crop insurance with 13.7 farmers in 2004

Questions What are the obstacles to working with

limited resource farmers on improved business management?

How can educators more effectively help limited resource farmers with business management?

How can we support educators better?