Montana farmers who bought state hail insurance in 2008 will receive a refund of 40 percent of the premiums they paid.
The state Board of Hail Insurance approved the refunds after reviewing an actuarial report at its annual meeting.
The Montana Department of Agriculture issued 2,269 hail insurance policies covering 1.9 million acres during 2008. Department Director Ron de Yong said that’s down slightly from the record 2.06 million acres covered in 2007
Board Chairman Gary Gollehon of Brady said the board, at its Dec. 3 meeting, decided premiums for the 2009 crop year will remain the same as those charged this year
Serving with de Yong and Gollehon on the board are State Auditor John Morrison and producers Trudy Laas Skari of Chester and Jim Schillinger of Baker.
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