Crop insurance claims could reach $20 billion this year

Drought Insurance

Droughts in 2012 may lead to record breaking insured losses. The drought continues to drag on through many of the main farming states, leading to crop insurance losses that are expected to break records as a result of ruined soybean, wheat, and corn fields. Almost half of the continental American states are experiencing these exceptionally dry conditions. As a result, every day without a significant soaking rain is raising the crop insurance losses. This, according to a National Drought Mitigation Center report at the University of Nebraska-Lincoln. This is creating…

Read More