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Crop Insurance Loss Performance in Illinois and the Midwest

Author

Listed:
  • Schnitkey, Gary
  • Sherrick, Bruce
  • Zulauf, Carl
  • Coppess, Jonathan
  • Paulson, Nick

Abstract

Since the inception of the modern crop insurance performance program, Illinois and the Midwest have had relatively low loss ratios compared to other areas of the country. This result holds even including the 2012 drought year in a relatively short history. Low loss rates in the Midwest and higher loss rates in other regions combine such that overall U.S. loss ratios are near 1.0. Still, disparities mean that farmers in the Midwest pay too much for crop insurance, while farmers in other regions pay too little.

Suggested Citation

  • Schnitkey, Gary & Sherrick, Bruce & Zulauf, Carl & Coppess, Jonathan & Paulson, Nick, 2025. "Crop Insurance Loss Performance in Illinois and the Midwest," farmdoc daily, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics, vol. 14(131).
    • Handle: RePEc:ags:illufd:358475
    DOI: 10.22004/ag.econ.358475
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