BLOOMINGTON – As a way to assist farmers during a challenging crop year, COUNTRY Financial is returning nearly $850,000 in Crop Hail dividends to policyholders.
The most recent paid dividend was in 2016, according to Lindsey Rinkenberger, COUNTRY director of agribusiness operations. The company is pleased to be able to return 5.7 percent dividends this year to crop hail policyholders.
“Just knowing that the season’s weather has proved difficult for many Illinois farmers, we just want to be there and continue to assist,” said Rinkenberger.
Also, USDA’s RMA has announced an interest deferral extension with federal crop premiums for the 2019 crop year. COUNTRY is taking additional steps to assist farmers who have not paid their crop hail premium or for any private products.
“We are also going to defer the interest accrued on those products as well through January 31 of 2020.”
This has been the largest Prevent Plant claim year for COUNTRY. Prior to 2019, 2013 held the previous record when the company paid around $8 million in losses. This year, that amount is up to $44 million in Prevent Plans losses alone, not counting revenue and production losses.
“It has definitely been a trying year for farmers all across, not only Illinois, but many of the states in the Midwest,” added Rinkenberger.
COUNTRY is planning several winter crop seminars between mid-December and early March with many speakers lined up. Approximately 50 meetings are already setup and those are listed and updated on a daily basis at www.countryfinancial.com under the “insurance” tab.
Seminar topics include 2020 crop insurance and Farm Bill updates, grain marketing and weather.