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CROP INSURANCE PAYMENTS REACH $14.5 BILLION
Mar. 8, 2013
BrownfieldAgNews reports:
The latest numbers from National Crop Insurance Services shows that as of March 4th, indemnity payments sent to farmers to cover losses from the last year have reached more the $15.4 billion.
Nineteen states have loss ratios exceeding 1.05 which means for every dollar paid in premiums the crop insurance companies are paying out $1.05 in indemnities. The national average is 1.39; Illinois has the highest loss ratio at 3.55.
The states above 1.05 include: Illinois, Missouri, Kentucky, Nebraska, Iowa, Indiana, Kansas, South Dakota, New Mexico, New Hampshire, New York, Wisconsin, Texas, Colorado, Massachusetts, Tennessee, Wyoming, Michigan and Ohio.
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