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The drought could cause crop insurers - including Ace (ACE), QBE (QBE) and Wells Fargo (WFC) -...

  • Friday, July 20, 2012, 5:36 AM ET
    The drought could cause crop insurers - including Ace (ACE), QBE (QBE) and Wells Fargo (WFC) - to suffer their first underwriting losses in ten years. However, with the government providing subsidies and reinsurance, taxpayers may have to foot 50%-80% of the bill. The severity of the drought makes it tempting for farmers to give up on the crops and claim the insurance rather than try to save their products.
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This news story has 2 comments:

  •  
    "taxpayers may have to foot 50%-80% of the bill."

    How shocking!
    20 Jul 2012, 07:58 AM Reply Like
  •  
    Where are my profits as a taxpayer from the 10 years when there was no drought????
    20 Jul 2012, 09:30 AM Reply Like
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