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The insurance industry is facing the biggest loss ever in the field of agricultural insurance, this is because the United States 100 years the most serious drought in the country billions of dollars in corn and soybean crops suffered a devastating blow.

Crop insurance business, insurance companies, some of its losses will be compensated because of the U.S. federal government in addition to subsidies farmers pay premiums to private insurance companies, insurance companies bear the risk reinsurance.

(University of Illinois), University of Illinois agricultural economist estimates that the current drought lead to the total liability of approximately $ 30 billion this year, underwriting loss of $ 18 billion. They said that the loss of $ 18 billion, part of the U.S. government commitments of approximately $ 14 billion, and some may be borne by private insurance companies to $ 4 billion. The rating agency Standard & Poor’s (Standard & Poor’s), the loss of private insurance companies is slightly higher than this amount, $ 5 billion U.S. dollars.

University of Illinois Gary the • Shiniteji the (Gary Schnitkey) and Bruce • thank Rick (Bruce Sherrick) warning, some agricultural insurance company shareholders of listed companies, “they may not have been aware of their’s agricultural insurance subsidiaries may produce size of losses. “http://blog.livedoor.jp/shuaiziwei83/

Global Insurance Group American Anda Insurance Group (ACE RayBan) estimated that, if its on the drought in the most pessimistic forecast to become reality, the company’s losses will reach $ 268 million, while the world’s largest re-insurance company Munich Re-Insurance (Munich Re) estimated that 160 million euros of its own losses.

Rating agency Moody (Moody’s), the other by the drought affected large insurance companies, including QBE (QBE), insurance companies (American Financial), Wells Fargo (Wells Fargo)’s Rural Community and the Allianz Group (Allianz) its Fireman’s Fund Insurance Company (Fireman’s Fund). This rating agencies warned that the small-scale insurance companies mainly agricultural insurance business or business in the affected areas, “its anti-strike capability seems higher than the degree of diversification of industry peers to be much weaker”.

Agricultural economist, said after the fourth quarter only to farmers harvested crops, in order to know the actual loss of crops. American Meteorological Services Department said last week, the the drought ravages of covering 87% of the nation’s corn producing areas and 85% of the soybean-producing areas.http://naomiszw.blogspot.com/