Crop Insurers’ Payouts Already Top $800 Million This Season

U.S. crop insurers have already paid out $822 million in indemnities this season, but it is still far too early to tell how large the industry’s losses will ultimately be, National Crop Insurance Services said on Friday.

The trade group issued the estimate in response to the latest USDA crop report, showing the worst drought in half a century has slashed corn and soybean crops.