NEWS
Marcia Zarley Taylor DTN Executive Editor
Tue Sep 10, 2013 02:02 PM CDT


GRIP's Astronomical Payouts Nipped



The popularity of county-based insurance plans like Group Risk Income Protection (GRIP) has ebbed in recent years, despite occasional astronomical payouts. When 2012 Illinois county yields collapsed and prices soared due to drought, many corn growers with GRIP policies collected more than $1,000/acre (see farmdoc map).

County-based insurance plans have offered Midwest growers better price protection than individual Revenue Protection policies, not only in drought years, but also low-price years like 1991 and 1998, University of Illinois studies show. That's because GRIP policyholders can insure losses with only 10% deductibles and payouts have been ...

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