Flood victims face higher crop insurance premiums

As if the water damage wasn?t enough, farmers who were flooded out by the Missouri River this summer may now be facing substantial increases in crop insurance premiums. The problem is many of the levees damaged or destroyed by the flood waters have not been repaired or not rebuilt to previous levels. The Army Corps of Engineers says it does not have enough money to make all of the needed repairs so they have been forced to prioritize projects. As a result, cropland protected by the levees is at a higher risk of getting flooded again.

USDA?s Risk Management Agency says $114 million has been paid out to cover damage to 436,000 acres along the river this year.

Source: http://brownfieldagnews.com/2011/12/15/flood-victims-face-higher-crop-insurance-premiums/

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