COUNTRY Returning $1.4 Million In Crop Hail Dividends
COUNTRY Financial will return about $1.4 million in March to more than 13,190 crop hail policyholders in Illinois.
Policyholders will receive a 10.7 percent return of the premium they paid in 2009. The amount of each dividend check will vary depending on the amount of crop hail coverage each policyholder had on crops during the 2009 season.
“Farmers faced a difficult crop season this year. Even though the severity of losses was greater this year, we experienced fewer crop hail claims,” says Jeff Gendron, senior vice president of Property and Casualty Operations for COUNTRY. “So, we are pleased to return a portion of our clients’ premium. Our continued financial strength makes the dividend return possible.”
The last time Illinois farmers received a dividend payment was for the 2007 crop season when COUNTRY returned $3.2 million to its crop hail clients.
COUNTRY is the largest crop hail insurer in Illinois. The company provides crop hail protection to about 4.9 million acres of Illinois crops valued at about $1.7 billion.