A federal pilot crop insurance program to help protect grape growers facing smoke damage is winning praise from local officials.
The U.S. Department of Agriculture Risk Management Agency recently announced it will launch the program for the 2025 crop year. Smoke taint was an issue in Napa County in the wake of the 2020 wildfires.
Wine grapes are essential to California's economy. Yet growers in the state have struggled to recover after smoke exposure damages their grapes, Rep. Mike Thompson, D-St. Helena, said in a news release.
"I've long advocated for strengthening crop insurance for winegrowers to better capture the risks associated with growing in smoke and wildfire-prone regions. RMA's announcement is an essential step toward that goal," Thompson said. Rex Stults, vice president of industry relations for Napa Valley Vintners, also welcomed the news that the USDA will begin offering smoke insurance policies. He called the program "a huge win for the Napa Valley wine industry."
Wine grapes exposed to smoke from wildfires can introduce compounds into the winemaking process that cause smoky, ashlike flavors and result in wines unfit for commercial sale. Those off-aromas and flavors become more pronounced as wine ages, the Thompson statement said.
Napa officials hail federal wine grape smoke damage program
In Brief
Advisor News
- Plan now for lower Social Security benefits later
- The conversation almost no advisor is having yet
- Why advisors should offer retirement-longevity planning
- A hybrid approach outperforms the 4% Rule, researchers find
- The missing piece in most retirement plans
More Advisor NewsAnnuity News
- Empower Annuity Insurance Company of America Trademark Application for “EMPOWER WHAT’S NEXT” Filed: Empower Annuity Insurance Company of America
- Industry pushes back on linking ‘financial strength’ to annuity illustrations
- Sammons Enterprises & Sammons Financial Group Respond to Reports
- The Manhattan Life Insurance Company Acquires Union Security Life Insurance Company of New York
- Cayman Islands premier to meet with U.S. reinsurance regulators
More Annuity NewsHealth/Employee Benefits News
Life Insurance News
- Life Insurance Awareness Month: Time to Reassess Your Coverage
- U-Haul Holding Company Announces Twentieth Annual Virtual Analyst and Investor Meeting
- Securian Financial Increases Individual Life Retention to $10 Million, Strengthening Support for High-Net-Worth Life Insurance Market
- Americans without children are less confident about retirement, Allianz finds
- The conversation almost no advisor is having yet
More Life Insurance News