Kansas Farmers Rack Up $1B in Insurance Claims After Drought (Insurance Journal)

Kansas Farmers Rack Up $1B in Insurance Claims After Drought

  Monday, January 30th, 2012 Source: Insurance Journal

Kansas farmers have claimed nearly $1 billion in insurance to offset crop losses caused by the lingering drought. The federal government says that breaks a Kansas record of $446.8 million for drought claims set in 2002, and more claims are expected. The U.S. Department of Agriculture said in its weekly update that it had paid $987.3 million to Kansas farmers so far for withered wheat and fall crops. Rebecca Davis, director of the USDA’s Topeka office, says she expects the payout amount to reach $1 billion.

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