Crop insurance losses resulting from the U.S. droughts could top $20 billion

Crop insurance program 2014

The industry continues to tally up the totals from predictions, which grow ever higher. The wide sweeping droughts that have destroyed the plants on farmers’ fields across the United States are racking up a significant bill, as AIR Worldwide has predicted that this single natural catastrophe have likely already bring about crop insurance losses worth over $13 billion. That disaster modeler forecasts that these losses may reach $20 billion by the end of the year. The data from AIR has shown that once the federal government recoveries have been accounted…

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