Wisconsin ranked in the top 10 among the states for the drought-related crop insurance payments made to farmers in 2012. Other states in the top 10 were Kansas, Illinois, Iowa, Indiana, Missouri, Nebraska, Texas, South Dakota, and Kentucky.
Payments on some 495,000 claims for production or income losses covered by the federal crop insurance program totaled $17.3 billion for 2012. During the decade of 2001-10, those payments averaged $4.1 billion per year.
That average happened to match the $4.1 billion in premiums that farmers paid to obtain policies for 128 different crops on 281 million insured acres in 2012. The claims for losses in 2012 were handled by some 5,000 adjusters.
In an update reported current as of Aug. 21, the Risk Management Agency of the U.S. Department of Agriculture had processed more than 1.1 million insurance policies on crops in 2013.
Those policies cover 278 million acres with a potential of $114 billion in liability. Farmers are paying $4.2 billion in premiums for those policies.
As of August 12, the latest crop condition report indicted that 89 percent of the corn and 91 percent of the soybean crops in the country were in fair or better condition.
The comparable numbers for those crops at the same time in 2012 were 49 and 62 percent.