Crop Insurance Payouts Remain at $10.8 Billion

June 21, 2012 11:25 AM
 

Via a special arrangement with Informa Economics, Inc.


NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.


Only minor shifts in latest weekly data.

U.S. crop insurance payouts under policies taken out for 2011 crops stayed largely unchanged at $10.8 billion for the week ended June 18, keeping the loss ratio for the program at .90, according to Risk Management Agency (RMA) data.

Corn still leads the total payouts with $3.221 billion in indemnities, accounting for about 30 percent of total indemnities on 2011 crops. And risk protection (RP) policies remain the main choice with corn producers, accounting for 85% of the premiums paid and a like percentage of indemnities paid out so far.

 06 21 12 CropInsurance

Here's a graphic of losses for the week ended June 18:

 06 21 12 CropInsurance2

As for 2012 crops, policies covering a net 107.095 million acres have been taken out with total premiums paid in now at $2.958 billion, up from $2.551 billion a week ago. For 2011 crops, a net 265.678 million acres were insured.


 

NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.

 

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