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

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.
Comments (2)
  • "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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