. Bulletin of the Department of Agriculture. Agriculture; Agriculture. Contribution from the Office of Farm Management and Farm Economics H. C. TAYLOR, Chief. Washington, D. C. November 17, 1920 HAIL INSURANCE ON FARM CROPS IN THE UNITED STATES. By V. N. Vaxgren, Associate Agricultural Economist. CONTENTS. Page. Introduction : 1 Origin and development 2 Territorial distribution _^ 11 Cost of hail insurance 16 Characteristics of the hail insurance contract Special problems in hail insurance Page. 20 24 INTRODUCTION. The business of farming involves numerous risks. These risks may be minimi
. Bulletin of the Department of Agriculture. Agriculture; Agriculture. Contribution from the Office of Farm Management and Farm Economics H. C. TAYLOR, Chief. Washington, D. C. November 17, 1920 HAIL INSURANCE ON FARM CROPS IN THE UNITED STATES. By V. N. Vaxgren, Associate Agricultural Economist. CONTENTS. Page. Introduction : 1 Origin and development 2 Territorial distribution _^ 11 Cost of hail insurance 16 Characteristics of the hail insurance contract Special problems in hail insurance Page. 20 24 INTRODUCTION. The business of farming involves numerous risks. These risks may be minimized, if not wholly removed, by the application of principles of insurance. The insurance method of dealing with risks and losses is widely current among men in commercial pursuits. To the latter, insurance is now available, and very generally procured, against nearly every form of loss to which their business is subject. The most common source of loss to the farmer is the partial or total failure of his crops. Hitherto, with negligible exceptions, the only form of crop insurance available has been that against loss by hail, and even this limited insurance coverage is of relatively recent origin. In the last few years, however, hail insurance has attained a quantitative importance that only those in close touch with the business have been in position to realize. Hail insurance on growing crops is written in the United States by organizations representing three different groups of business insti- tutions. These groups are: (1) Mutual hail insurance companies, which, with few exceptions, limit their business to the insurance of growing crops against hail; (2) joint-stock fire insurance companies, which write hail insurance on growing crops more or less as a side line: (3) State hail insurance boards or departments, under whose direction and control are administered State hail insurance funds. 7676°—20 1. Please note that these images are extracted from scanned page images that
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