Insurance Watch - 2
Marcia Zarley Taylor DTN Executive Editor
Tue Nov 6, 2012 01:22 PM CST

HADDONFIELD, N.J. (DTN) -- America's grain farms averted death by drought in 2012, and they have crop insurance to thank.

"Nine out of 10 of the eligible acres in Nebraska, Iowa and South Dakota are insured at 70% yield levels or above," said Rhonda Smith, vice president of insurance for Farm Credit Services of America, Sioux Falls, S.D. "We're in a much better place than in the 1980s."

When the last debilitating drought struck the Corn Belt in 1988, a paltry 60% yield coverage was the best you could buy and revenue policies with harvest prices didn't exist. No wonder ...

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