Background Information

Total Costs

Indemnities

Administrative and Operating Expense Reimbursements

Premium Subsidy

Farmer Premiums

Total Costs (see methodology) of the Crop Insurance Program in Spencer County, Indiana

Total Costs (see methodology)

YearTotal Costs (see methodology)Policies
1995$204,5401,032
1996$50,072927
1997$111,828338
1998$291,109310
1999$415,059367
2000$-433,775463
2001$-98,723471
2002$2,496,294453
2003$2,005,789521
2004$1,929,207575
2005$200,440590
2006$281,292578
2007$235,701570
2008$2,147,991599
2009$37,245678
2010$628,079665
2011$547,056689
2012$17,395,681676
2013$-328,482717
2014$-221,624732
2015$-131,585728
2016$1,159,077717
2017$-828,966707
1995-2017$28,093,30714,103

METHODOLOGY: EWG obtained county level crop insurance information from USDA Risk Management Agency which shows premium subsidies, indemnities and farmer premiums at the county/crop level by crop year. Administrative and Operating Expense Reimbursements to crop insurance companies (A+O), Other program fund costs, Other administrative and operating fund costs expenses, and Government earned interest were allocated to the crop/county level by using the national expenditures/revenue of the Crop Insurance program (available here for 2008-2017 and from RMA previous to 2008) in each category and attributing them the crop/county level by total premiums. EWG was unable to attribute underwriting gains to the county/crop level. Underwriting gains (or losses) are paid to insurance companies when the insurance companies collect more in total subsidies than are paid out in indemnities. Since underwriting gains are paid by company on the basis of all of their policies, EWG was unable to allocate underwriting gains by crop or by region. The total underwriting gains for 1995-2017 is $14.6 billion.

 

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