Crop Insurance

(redirected from Hail insurance)
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Crop Insurance

A contract of indemnity by which, for a specified premium, one party promises to compensate another for the financial loss incurred by the destruction of agricultural products from the forces of nature, such as rain, hail, frost, or insect infestation.

The federal government, acting through the Federal Crop Insurance Corporation, an agency of the department of agriculture, sponsors such insurance. By improving the economic stability of agriculture, crop insurance promotes the welfare of the nation.

Cross-references

Agricultural Law.

References in periodicals archive ?
Texas' provider of last resort for wind and hail insurance for coastal properties won't be raising its residential and commercial property rates next year.
in the tap water insurance, the storm / hail insurance and the burglary insurance is a deductible of 5 000.00 eur per claim to be agreed.
Over the years, Indiana Farmers Mutual acquired a handful of companies including Indiana Mutual Hail Insurance Co., Gibson Warrick and Vanderburgh County Farmers Mutual Insurance and the Farmers Mutual Fire Insurance Company of LaPorte, Indiana.
The company offers personal and commercial insurance solutions, including crop hail insurance, which supports Hub's recent launch of its Specialty practices by complementing and strengthening Hub's existing solutions.
Farmers Mutual Hail Insurance Company of Iowa (FMH), headquartered in West Des Moines, IA, has quite a story to tell.
Backers include Allstate, EMC Insurance, Farmers Mutual Hail Insurance Company of Iowa, W.R.
As a result of the carnage, the General Hail Insurance Company, later to become Norwich Union, was formed.
Jensen, who was hired by Rain & Hail Insurance Service in Fresno, Calif., "is that I'm on the side of the grower." He was affable, helpful and in no way obstreperous, but seriously overworked.
The rating action follows the recent announcement that AGIC's parent, Rain and Hail Insurance Service, has entered into a definitive agreement to be acquired by Ace Ltd (NYSE:ACE), AM Best explained.
However, in hazard zones V and A, property owners must purchase wind and hail insurance as a separate policy.
The Seed Grain Act of 1908 and the Hail Insurance Act of 1912 sought to provide farmers some protection from crop failure and damage.
"I have always made money off of crop hail insurance," Johnson allegedly said.