Friday 2013-03-08

Seems like the USDA Crop Insurance program has been getting out of control recently, with 2012 yielding the largest underwriting loss (5.3e9 USD) in the last decade.

It could be just luck; regardless it would be prudent to have someone at a profitable insurance company look over the USDA's model. I'd be very worried a whole lot of canny farmers were taking the smart side of a trade, leaving the other side for the bureaucrats.

-- from USDA's Risk Management Agency Loss Claims

Not to mention that the right-hand column seems to be also going in the wrong direction.