Extreme weather forced the federal crop insurance program to pay out a record-breaking $17.3 billion in crop losses last year, much of which could have been prevented using water-smart strategies, according to the Natural Resources Defense Council (NRDC). Payments made …
The government declared much of the central and southern U.S. Wheat Belt a natural disaster area on Wednesday due to persistent drought that imperils this year’s winter wheat harvest. In its first disaster declaration of the new year, the Agriculture …
The drought in the U.S. agricultural heartland continues to deteriorate crops in the Corn Belt with no meaningful precipitation relief in sight. After the hottest July on record, insured losses from the 2012 drought are now expected to surpass losses …
Record-setting droughts in the U.S. Midwest throughout 2012 are likely to result in substantial gross insured losses for crop insurers and reinsurers and possibly their first overall loss in 10 years, says Moody’s Investors Service in a profile of the …
Analysts at Fitch Ratings say they believe the leading writers of crop insurance will be able to absorb any near-term crop losses from the current drought in the Midwest. Fitch said the insurers are likely to maintain current levels of …
