Growers National Cooperative Insurance Agency, Inc. (GNC) was formed as a result of the Agricultural Risk Protection Act of 2000 which stated, "partnerships between approved insurance providers and farmer-owned cooperatives provide an opportunity for agricultural producers to obtain needed insurance coverage." The passage of the Agricultural Risk Protection Act provided significant opportunities for GNC. The law acknowledges the role cooperatives and associations could play in encouraging producer participation in the federal crop insurance program, improving the delivery system for crop insurance, and helping to develop new and improved insurance products.
GNC is distinctly different from other businesses. These differences are found in its purpose, ownership, control and benefits. GNC members unite to obtain services and products to enhance their farming operation. Acting together gives members the advantage of size and bargaining power.
When GNC generates margins from efficient operations, these earnings are returned to members in proportion to their use of the cooperative.
