The Sisseton weekly standard. (Sisseton, Roberts County, S.D.) 1892-1929, 1919-10-03
Hail Insurance Gives a Profit

Hail Insurance Gives Profit
Plerre-Those who took out state
hail insurance for this year will soon
receive payment on the certificates is
sued to them, since the state hail de-
partment has disposed of 100000
worth of bonds for this purpose. AS
the season for adjusting hail losses
in this state is closed, the total a.
mount to be paid out is practically
known at $4,000. The receipts for
the season were over a million, plac-
ing the surplus at approximately
100000. The rate is to remain al
the present one from Csc an acre
east of the Missouri river to as cents
west of the stream, until this surplus
= reaches $2,50O,OOO, after which the
rate can be lowered until the surplus
is drawn upon. This surplus draws in.
terest all the time. The season for the
nrst effort at state hail insurance has
Deen very favorable one, allowing
larger accumulation of surplus than
ws expected.
The sitaution over the northwest
is near enough closed so that COM
parsons are being made with othe,
states trying out the plan. InS askat.
cneWan, which has been carrying hail
insurance for a number. of wears the
rate is fixed on the total acreage at
SIX cents per acre, and this year with
losses Of 81, 100000, it is found necas
sary to levy an additional tax of 22'
cents an acre on all seeded land to
meet their losses.
In Montana the assessment is 81 go
on seeded acres to meet their Iosses
Whlie South Dakota was not hard hit
North Dakota. losses run to nea,
three million dollars, and they will
need at least 35 cents per acre ON al,
seeded land in addition to the repula,
assessment of three cents an acre on
all tlllable land in the state. Another
feature of the difference between this
state and North Dakota is found in
the fact that the adjusting in this
state was done by fifteen men, with
not more than ten out at any one time
In North Dakota over 200 adtusters
were out drawing pay from the fund
Under their system the farmers in the
western part of the state who lost
their crops by drouth are assessed inst
the same as those in the eastern ma rt
who had good enops.atllso under the,,
law, there is but $3.50, 900 available to
pay losses this year and holders of
certificates over that amount have to
wait for their pay.
Ihe main features of the difference
between the hail plans of Saskatche.
wan and North Dakota, and that of
South Dakota, is that i'm those states
ehe iand owner is called upon to paw a
part OF the assessment even though he
farms none of his tract, and the crop-
ped land is only assessed IL the gem
eral fund does not meet the losses. In
oouth Dakota the man who will get
the benefit in case of hail is the ono
assessed, as the whole assessment is
placd against the cropped land, and
this the crop raiser can avoid by the
ming of statement of withdrawal
with the county auditor.
Nebraska, while it does mot have
complete state hail insurance law. is
looking into the South Dakota plan
as a possibility for that state, the in
surance commissioner of that state
having recently visited the South Da.
kota department to secure data as to
the workings of the law in this state
The situation has been most fav.
orable in South Dakota, and while
only about one fourth of the crop was
insured this year, next year will
bring much larger percentage with
the experience of this year.