Montana farmers who bought state hail insurance this year will receive a refund of 40 percent of the premiums they paid. The state Board of Hail Insurance approved the refunds after reviewing an actuarial report at its annual meeting.
The Montana Department of Agriculture issued 2,269 hail insurance policies covering 1,890,454 acres during 2008, an amount down slightly from the record 2,058,886 acres covered in 2007, said Ron de Yong, department director.
At its Dec. 3 meeting, the board decided premiums for the 2009 crop year will remain the same as those charged this year, said board Chairman Gary Gollehon of Brady, Mont.
Serving with de Yong and Gollehon on the board are State Auditor John Morrison and producers Trudy Laas Skari of Chester and Jim Schillinger of Baker. For more information, e-mail: agr@mt.gov.
Was this article valuable?
Here are more articles you may enjoy.
Taylor Swift Cancellations Deal Blow to Insurers: Sources 
Florida Insurer Can’t Object to Appraiser After the Award Is Decided, 11th Circuit Says 
U.S. Auto Insurers’ Strong Performance to Continue Through 2025: Fitch 
Labor Market Study: 14% of Carriers Plan to Reduce Headcounts 
