- More than $2 billion has been sent to farmers from crop insurance to cover losses from one of the worst droughts in decades.
- Crop insurance has become a key factor in risk management.
Corn, wheat, cotton, soybeans and pasture rangeland forage top the list of U.S. crops suffering the heaviest losses from the 2012 drought, according to a report from the National Crop Insurance Service.
To date, more than $2 billion has been sent to farmers from crop insurance to cover losses from one of the worst droughts in decades.
National Crop insurance reports indicate that policies protect 128 different crops.
Crop insurance has become a key factor in risk management and farmers will invest more than $4.1 billion to purchase more than 1.2 million crop insurance policies. Those policies protect more than 281 million acres of eligible crops.
Those policies are serviced by 15,000 crop insurance agents and 5,000 loss adjusters who help farmers get their claims processed.
