People’s Bank

WHAT KIND OF CROP INSURANCE SHOULD I CHOOSE?

There are two types of crop insurances offered to farmers: Crop-Hail and Multiple Peril Crop Insurance (MPCI). MCPI covers the wide range of perils that can affect your investment in your crop, while crop-hail insurance is available to protect your investment in case of an untimely hailstorm. While MPCI policies must be purchased before planting and cover loss of crop yields from all types of natural causes (including excessive moisture or drought, freeze, disease, and loss in revenue due to low yields or changes in market pricing), you can purchase a Crop-Hail policy at any time during the growing season.

ISN’T CROP INSURANCE EXPENSIVE?

Crop insurance is actually a great deal — especially when you consider the catastrophic losses you’re guarded against! Here’s why: • The Risk Management Agency (RMA) sets the rates that can be charged for crop insurance. • Private companies must sell insurance to every eligible farmer who requests it. They retain a large portion of the risk on more than 80% of the policies written. • The federal government subsidizes the farmerpaid premiums to reduce the cost to farmers. • Also, it provides reimbursement to private insurance companies to offset operating and administrative costs that farmers would otherwise pay as part of their premium.

HOW DO I GET STARTED?

At Peoples Insurance, we understand how much your farm means to you. Our agents have decades of local agricultural expertise and a long history in the insurance industry. Every day, we help Iowa farmers meet their insurance needs, and we’re prepared to design the right policy for you as well.

Contact us for Crop Insurance Today!

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HAWARDEN NATIVE HELPED SOLVE SUPPLY CHAIN ISSUES IN ‘50S-‘60S

In the last year, nearly every sector of the economy has been impacted by the global supply chain crisis. The problems are easy to see in agriculture where implements and parts are in short supply and auto dealers are severely backordered on pickup trucks.

Ruth and Cecil Henkels in Sioux Center in 1993.

Today’s supply chain disruption started when the response to Covid caused a million small interruptions by governments and corporations. Exploding consumer demand added to the bottleneck, especially at sea ports. There has also been raw-material shortages, factory closures, a lack of truck drivers, port congestion, and inadequate infrastructure. The closure of the Suez Canal in March 2021 also created a negative domino effect on world supply chain logistics. The United States and the world also dealt with major supply chain problems 70 years ago. After World War II, U.S. ports were highly inefficient. With imports and exports via U.S. ports rising to unprecedented levels, vast improvements were needed to America’s shipping logistics in the post-war economic boom. In addition, the country’s railroads were faced with growing competition from commercial trucks.

Did you know an enterprising young man who grew up in Hawarden was at the center of helping to solve this supply chain dilemma in the 1950s and 1960s?

Cecil W. Henkels was born in Hawarden in 1913 and graduated from Hawarden High School in 1931. He was one of the first two Eagle Scouts honored in Hawarden. His parents were William and Carrie Henkels. William Henkels was a partner in Wilkison-Henkels hardware store in Hawarden for about 30 years before moving to Omaha. In 1940, Cecil married Ruth Cole, the daughter of Hudson area farmers, Robert and Julia Cole. Cecil Henkels began his transportation career in Sioux City. In 1937, he was transferred by Dougherty Motor Freight Lines to Omaha. During World War II, he was the general traffic manager of the Glenn L. Martin Aircraft Corporation in Omaha. After the war, he returned to the trucking business, buying two truck lines which he later sold to the third largest company in the U.S. and he became district sales manager, terminal manager and general manager in Denver, Omaha and Sioux City.