Crop insurance indemnity payments reach $16 billion

Published online: Apr 04, 2013
Viewed 808 time(s)

National Crop Insurance Services reports that as of March 25, more than $16 billion has been paid out to farmers for losses suffered in the 2012 crop year.

Nineteen states have loss ratios exceeding 1.05 meaning for every dollar invested in crop insurance they have received at least $1.05 in indemnities. The national loss ratio is 1.44 with Illinois the highest at 3.81.

The nineteen states are: Illinois, Missouri, Kentucky, Nebraska, Iowa, Indiana, Kansas, South Dakota, New Mexico, New Hampshire, New York, Wisconsin, Texas, Colorado, Massachusetts, Tennessee, Wyoming, Michigan and Ohio.