Crop Insurance

Franklin County, Iowa

Background Information

Total Costs

Indemnities

Administrative and Operating Expense Reimbursements

Premium Subsidy

Farmer Premiums

Administrative and Operating Expense Reimbursements
CropAdministrative and Operating Expense Reimbursements
1995-2017
Policies
Corn$19,169,57719,455
Soybeans$6,623,25419,254
Revenue Coverage Corn$121,941216
Hybrid Corn Seed$94,427655
Revenue Coverage Soybeans$43,176192
GRP Corn$32,237123
Sweet Corn$16,009170
GRP Soybeans$7,17896
Oats$5,892538
Forage Production$88133
Miscellaneous Crops$38925
1995-2017$26,114,95940,757

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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