Crop Insurance

Franklin County, Iowa

Background Information

Total Costs

Indemnities

Administrative and Operating Expense Reimbursements

Premium Subsidy

Farmer Premiums

Administrative and Operating Expense Reimbursements Paid to Insurance Companies by the Crop Insurance Program in Franklin County, Iowa

Administrative and Operating Expense Reimbursements

YearAdministrative and Operating Expense ReimbursementsPolicies
1995$313,4672,428
1996$472,4062,400
1997$384,9262,006
1998$413,1761,962
1999$423,2191,904
2000$536,3761,905
2001$605,0621,876
2002$591,7131,779
2003$688,5241,695
2004$975,1631,666
2005$946,1541,628
2006$1,118,5531,573
2007$1,928,0731,543
2008$2,783,9411,570
2009$2,122,4121,627
2010$1,645,8961,582
2011$1,803,1251,604
2012$1,668,2001,657
2013$1,574,6581,672
2014$1,323,0361,670
2015$1,328,1191,702
2016$1,145,3001,671
1995-2016$24,791,49339,120

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 2003-2014 and from RMA previous to 2003) 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 1995-2016 is $14.6 billion.

 

Farm Subsidies Education

AgMag