Crop-loss band · Minnesota
Faribault County, Minnesota — crop-loss band
- 0.80Low end of the filed band
- 1.58Middle of the filed band
- 3.21High end of the filed band
- 2024Worst year filed (4.01)
- 10Years filed
Every year the Risk Management Agency has filed for Faribault County is in the series below, from 2015 to 2024. Read across those years the county’s annual loss ratio — indemnity divided by premium — runs from 0.80 at the low end to 3.21 at the high end, with 1.58 in the middle. The worst year filed is 2024, at 4.01. The band points are years the county actually ran, never a figure interpolated between two of them.
The county’s year-by-year record
| Year | Premium | Indemnity | Liability | Policies | Policies with a loss | Loss ratio |
|---|---|---|---|---|---|---|
| 2015 | $45,970 | $73,006 | $608,640 | 28 | 28 | 1.59 |
| 2016 | $324,395 | $259,671 | $7,024,884 | 114 | 102 | 0.80 |
| 2017 | $263,608 | $310,634 | $4,368,462 | 96 | 96 | 1.18 |
| 2018 | $5,030,969 | $16,165,878 | $104,138,509 | 1,025 | 1,023 | 3.21 |
| 2019 | $2,635,212 | $7,338,492 | $53,235,954 | 646 | 644 | 2.78 |
| 2020 | $366,176 | $602,915 | $6,697,027 | 103 | 103 | 1.65 |
| 2021 | $1,093,876 | $1,445,875 | $14,982,634 | 165 | 165 | 1.32 |
| 2022 | $492,737 | $776,650 | $5,535,020 | 86 | 86 | 1.58 |
| 2023 | $8,585,712 | $13,345,873 | $155,706,877 | 964 | 964 | 1.55 |
| 2024 | $13,586,666 | $54,417,550 | $241,313,146 | 1,804 | 1,802 | 4.01 |
Commodities insured in Faribault County
3 commodities here clear the desk’s floors — at least five filed years and a quarter of a million dollars of filed premium. Each carries its own band, so a reader can read the commodity they actually farm rather than the county average.
Corn 10 years filed
- 0.69Low end of the filed band
- 1.78Middle of the filed band
- 3.44High end of the filed band
- 2024Worst year filed (4.36)
- 10Years filed
- $20,006,580Premium filed
- $62,287,277Indemnity paid
- $395,692,870Liability insured
- 475,711Quantity planted
- 458,810Quantity lost
- 2,748Policies
- 2,740Policies with a loss
- 3.11Loss ratio, whole span
Causes that carried the indemnity in Faribault County
- Excess Moisture/Precipitation/Rain $42,238,971 indemnity · 9 years
- Drought $7,269,823 indemnity · 6 years
- Decline in Price $5,074,588 indemnity · 7 years
- ARPI/SCO/ECO/STAX/MP/HIP-WI/PACE Crops Only $3,290,028 indemnity · 2 years
- Hail $1,794,293 indemnity · 4 years
- Wind/Excess Wind $1,288,427 indemnity · 8 years
Soybeans 10 years filed
- 0.31Low end of the filed band
- 1.06Middle of the filed band
- 2.97High end of the filed band
- 2024Worst year filed (3.49)
- 10Years filed
- $11,863,237Premium filed
- $31,043,153Indemnity paid
- $194,975,523Liability insured
- 340,844Quantity planted
- 315,496Quantity lost
- 2,088Policies
- 2,080Policies with a loss
- 2.62Loss ratio, whole span
Causes that carried the indemnity in Faribault County
- Excess Moisture/Precipitation/Rain $22,594,325 indemnity · 10 years
- Hail $2,413,065 indemnity · 8 years
- Decline in Price $1,978,113 indemnity · 5 years
- Drought $1,729,490 indemnity · 5 years
- ARPI/SCO/ECO/STAX/MP/HIP-WI/PACE Crops Only $1,397,691 indemnity · 2 years
- Cold Wet Weather $579,049 indemnity · 9 years
Green Peas 10 years filed
- 0.90Low end of the filed band
- 2.02Middle of the filed band
- 4.17High end of the filed band
- 2024Worst year filed (4.28)
- 10Years filed
- $555,504Premium filed
- $1,406,114Indemnity paid
- $2,942,760Liability insured
- 6,617Quantity planted
- 6,608Quantity lost
- 195Policies
- 193Policies with a loss
- 2.53Loss ratio, whole span
Causes that carried the indemnity in Faribault County
- Heat $671,165 indemnity · 9 years
- Excess Moisture/Precipitation/Rain $521,349 indemnity · 7 years
- Drought $132,840 indemnity · 2 years
- Cold Wet Weather $41,422 indemnity · 1 years
- All Other Causes $33,997 indemnity · 2 years
- Hail $3,869 indemnity · 1 years
Every county-crop the agency files in Minnesota → Buy the Faribault County dossier →
Figures from the federal source files: EPA’s ECHO downloads, CMS provider files and the FMCSA census.
County cause-of-loss figures from the USDA Risk Management Agency’s Cause of Loss Summary of Business, county files, filed by the agency as a United States Government work. The loss ratio is the agency’s own published column: indemnity divided by premium, re-derived at the summed county-crop grain.