The continental United States is parched,with 62% of the lower 48 states experiencing moderate to exceptional drought, according to the August 14 U.S. Drought Monitor. Crop insurance is helping farmers pick up the pieces. So far in 2012:
Farmers have invested $3.9 billion to purchase more than 1.1 million crop insurance policies.
The policies provide $110 billion in liability protection.
15,000 private crop insurance agents and 5,000 loss adjusters are already helping farmers with claims.
The crop insurance industry has already paid out $948 million in indemnity checks.