$2 billion in indemnity payments already paid to farmers
With the vast majority of the U.S. corn, cotton, soybean and sorghum crops yet to be harvested, crop insurance companies have already paid out nearly $2 billion in indemnities to farmers who have suffered losses this year.
“America’s heartland has taken a beating from Mother Nature and the crop insurance industry is committed to servicing the nation's farmers and getting indemnity payments into the hands of policyholders as quickly as possible,” said Tom Zacharias, president of National Crop Insurance Services (NCIS). Zacharias noted that the industry’s 5,000 claims adjusters are working day and night to expedite claims for farmers who have suffered from this year's drought.
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