Nebraska plans to explore insurance fund for farmers

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By The Associated Press

The Nebraska Public Service Commission wants to know whether farmers are interested in a new insurance fund to protect themselves against losses when grain elevators fail.

Grain warehouse Division Director John Fecht says a hearing will be held Sept. 17 to gauge interest. The commission may ask the Legislature to consider the idea next spring.

Fecht says the insurance would likely help cover farmers losses if a grain elevator fails.

In the recent bankruptcy of Alvo Grain and Feed, farmers who claim they weren’t paid for grain they sold will receive only partial compensation. The farmers whose claims were approved will get 12.4 cents back for every dollar they lost.