Country Financial will return $1.3 million in crop hail dividends in March to about 11,200 crop hail policyholders in Illinois.
Policyholders will receive a 9-percent return of the premium they paid in 2012. The amount of each dividend check will vary depending on the amount of crop hail coverage each policyholder had on crops during the 2012 season.
“This season’s devastating drought has proved difficult for many Illinois farmers. We have been with clients every step of the way to make sure that their crop claim is handled promptly and fairly, and that we provide them with outstanding claims service,” said Jeff Gendron, senior vice president of Property and Casualty Operations for Country. “Our continued financial strength makes the dividend payment possible. We are pleased to return a portion of our clients’ crop hail premium.”
Country has paid a crop hail dividend to Illinois farmers for seven of the last nine years. During this time, Country has returned $13.7 million in crop hail dividends.
Country is the largest crop hail insurer in Illinois. The company provides crop hail protection to 3 million acres of Illinois crops valued at about $2 billion.