Mont. board OKs hail insurance refunds for farmers

AP News
Posted: Dec 09, 2009 11:18 AM

The state Board of Hail Insurance has approved a refund of 30 percent of the hail insurance premiums paid by Montana farmers.

The state Department of Agriculture issued 1,996 hail insurance policies covering 1.6 million acres during 2009, below the record of just over 2 million acres in 2007.

Montana Insurance Commissioner Monica Lindeen says an actuary report shows the insurance program is financially strong and able to provide refunds to policy holders.

Board chairman Gary Gollehon of Brady says the board also decided at its Dec. 3 meeting that premiums for the 2010 crop year will remain the same as those charged this year.