Crop-loss band · Michigan
Soybeans in Michigan
- 1.58Low end of the filed band
- 1.87Middle of the filed band
- 2.48High end of the filed band
- 2019Worst year filed (4.80)
- 10Years filed
Every year the Risk Management Agency has filed for Soybeans in Michigan, summed across the 48 counties that insure it. The annual loss ratio — indemnity divided by premium — runs from 1.58 at the low end to 2.48 at the high end, with 1.87 in the middle. The worst year filed is 2019, at 4.80.
- $154,257,997Premium filed
- $354,754,662Indemnity paid
- $1,512,748,080Liability insured
- 32,146Policies
- 32,113Policies with a loss
- 3,659,583Quantity planted
- 3,540,925Quantity lost
Soybeans in Michigan, year by year
| Year | Premium | Indemnity | Liability | Policies | Policies with a loss | Loss ratio |
|---|---|---|---|---|---|---|
| 2015 | $6,302,122 | $15,627,710 | $51,125,176 | 1,798 | 1,797 | 2.48 |
| 2016 | $3,768,071 | $7,047,949 | $32,455,001 | 1,105 | 1,099 | 1.87 |
| 2017 | $18,667,240 | $30,871,081 | $170,305,598 | 3,091 | 3,089 | 1.65 |
| 2018 | $14,489,445 | $28,410,078 | $152,833,253 | 2,988 | 2,980 | 1.96 |
| 2019 | $20,730,125 | $99,468,134 | $196,990,953 | 6,636 | 6,634 | 4.80 |
| 2020 | $11,315,657 | $18,695,673 | $127,845,389 | 2,799 | 2,793 | 1.65 |
| 2021 | $8,097,444 | $12,822,587 | $74,186,209 | 1,627 | 1,623 | 1.58 |
| 2022 | $21,563,528 | $39,533,633 | $200,036,455 | 3,015 | 3,014 | 1.83 |
| 2023 | $23,755,501 | $48,044,423 | $238,754,163 | 4,107 | 4,105 | 2.02 |
| 2024 | $25,568,866 | $54,233,394 | $268,215,884 | 4,980 | 4,979 | 2.12 |
Every county-crop the agency files in Michigan → Buy one county-crop’s 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, summed to the commodity and state. The loss ratio is the agency’s own published column, re-derived at this grain.