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Crop insurance rates skyrocket after summer floods

14.12.2011 9:07   4 views   0 comments


FILE - In this Sept. 19, 2011, file photo Rob Chatt sees for the first time the extent of the soil erosion caused to his family's corn fields by the streaming flood waters of the Missouri River, near Tekamah, Neb. Midwestern farmers may be socked with steep increases in their crop insurance premiums, some nearly five times what he paid a year ago, unless levees damaged by last summer's flooding are fixed. The problem is there's not enough money for repairs, and the U.S. Army Corps of Engineers is focusing on fixing those protecting homes and facilities like water treatment plants. (AP Photo/Nati Harnik, File)Midwestern farmers who saw their land swamped by summer flooding may be socked again with steep increases in their crop insurance premiums, the expensive result of the failure to fix broken levees before the winter snow and next spring's rains.




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