NU Online News Service, Aug. 21, 2:03 p.m. EDT
A report from Standard & Poor’s says insured crop losses caused by the worst drought since 1988 could cost insurers and reinsurers more than $5 billion.
The rating service says crop insurers “will see some of the worst underwriting results on their books” in 24 years, but the losses will be manageable because of “loss sharing from the U.S. government and diversification with other lines of business.”
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