The following table shows the county programs offered in fiscal year 1962 a 1963 as compared to the number planned for 1964 and 1965:

Participation summary of crops insured, 1963, 1964, and 1965 crop years

The Federal Crop Insurance Corporation is a wholly owned Govern Corporation which provides all-risk crop insurance protection against unavoid causes of loss. The Corporation's objective is to promote the national welfar improving the economic stability of agriculture through a sound system of insurance. In 1948, the crop insurance program was placed on a limited and offered in a limited number of counties and on selected crops to obtain quate experience for expansion to a national basis. Expansion during the p 1948-61 was limited. Based on past experience, the Corporation, in 1963, and 1964 expanded the program to 100 additional counties each

Summary of experience, 1948-62

During this 15-year period premiums of $284.4 million exceeded indemnities of $270.6 million by $13.8 million. Premiums exceeded indemnities in 8 of the 15 years since the program was placed on an experimental basis in 1948. The number of counties in which crop insurance is offered has increased from 375 in 1948 to 995 in 1962; and the crops insured from 169,125 to 364,175.

Wheat continues to dominate the Corporation's cumulative experience. Of the total premiums of $284.4 million, $151.4 million or 53 percent was derived from the wheat program. Wheat indemnities were $136.3 million or 50 percent of the total. The loss ratio for wheat for the period is 0.90 compared to 0.95 for all commodities.

The following tables summarize the experience for the period 1948 to 1962 by crops and years:

1 Excess of indemnities over premiums indicated by minus sign (—).

Summary of experience by crop years, 1948-62

Crop insurance continued to be offered in 38 States in 1962. In 21 Stat premiums exceeded indemnities and in the remaining 17 indemnities exceede premiums. The following table shows the 1962 crop year experience by State

Summary of 1962 crop year experience by State

In 1962, indemnities exceeded premiums for the first time in 6 years. demnities were $24 million compared to $21.9 million premiums for a los $2.1 million. The loss ratio was 1.10.

It appeared that the 1962 crop year, was to have been the sixth consecu favorable year for the Corporation until a heavy freeze in December and Jan in Florida and California severely damaged the citrus crop. Indemnitie nearly $6 million were paid out of a total liability of about $9 million.

Expansion of the crop insurance program at a more rapid rate was begu 1962, after 14 years of operating on a limited basis in select counties for the pose of acquiring adequate experience. Insurance was offered in 100 addit counties and on 3 new commodities, maximum permitted by law. Also, insur for additional commodities was made available in about 150 of the old cour For the first time since 1953, the Corporation showed a major increase in amount of crop protection provided farmers. Total coverage increased $271.7 to $356.6 million.

In 1962, crop insurance protection was available to producers in 995 cou The following table shows the distribution of county participation by comm and State:

Expansion of the program for 1963 and 1964

1. Addition of new counties: For crop year 1963, 100 new counties were added to the program, and 100 new counties will be added for 1964. 2. Expansion of the program to additional commodities. The Federal Crop Insurance Act permits the offering of insurance on three additional commodities each year.

In 1963, new programs were developed and insurance was offered for the first time on apples in three counties, cherries in one, and tomatoes in three. The following table reflects the experience by crops for these commodities:

Plans are being made to offer insurance on safflower, and sugarbeets in severa counties for crop year 1964.

3. Insurance protection is being expanded in old counties by offering insuranc on additional commodities. For crop year 1964 approximately 137 new count programs will be allocated in about 120 old counties.

Program operating statistics

The following tables show statistical data by commodities for the past 5 year The 1963 crop year data are estimated: