Crop Insurance

Franklin County, Iowa

Background Information

Total Costs

Indemnities

Administrative and Operating Expense Reimbursements

Premium Subsidy

Farmer Premiums

Indemnities
CropIndemnities
1995-2016
Policies
Corn$114,229,98018,646
Soybeans$21,823,61918,449
Hybrid Corn Seed$146,464655
Revenue Coverage Corn$36,136216
Oats$15,026516
Forage Production$5,54133
Revenue Coverage Soybeans$2,749192
Sweet Corn$742170
GRP Corn$0123
GRP Soybeans$096
Miscellaneous Crops$024
1995-2016$136,260,25739,120

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.

 

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