By Max Nova
NCX
When hurricanes, wildfires, ice storms, or pest outbreaks hit, the financial impact on forest landowners can be devastating. Timber, the most valuable asset in most family-owned forests, can be wiped out in an instant. Yet under current law, timber is excluded from the Federal Crop Insurance Program and casualty tax deductions are limited. With limited assistance from the government and no widely available private insurance options, forest landowners are exposed to decades of risk without financial protection.