Insurance agents clashed with the Department of Agriculture's Risk Management Agency at a Senate hearing today over a proposed premium reductions plan they claim would destroy the crop insurance marketplace.
Norman Nielsen, president of Preston, Iowa-based Associated Insurance Counselors Inc., speaking on behalf of the Independent Insurance agents and Brokers of America was among those attacking the proposal.
In testimony before the Senate Committee on Agriculture, Nutrition and Forestry, Mr. Nielsen said the RMA's Premium Reduction Plan (PRP) if fully enacted could potentially allow individuals without the training of an insurance agent to sell the product.
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