USDA reports $233M in Hurricane Helene insurance payments
| Agriculture Secretary Tom Vilsack announced Tuesday that USDA had made $233 million in payments in states impacted by Hurricane Helene under the Hurricane Insurance Protection-Wind Index (HIP-WI) endorsement. As a result, Approved Insurance Providers have 30 days to issue payments to producers, but AIPs typically issue payments much sooner. USDA’s Risk Management Agency first offered HIP-WI for the 2020 hurricane season, and last year, the endorsement was expanded to include the Tropical Storm Option (TS). Under HIP-WI and TS, producers with the endorsement will receive over $233 million in indemnities for hurricane-related losses from Hurricane Helene. “Several states across the southeast experienced devastating damages from Hurricane Helene, which caused significant destruction right before the fall harvest season,” Vilsack said in a news release. “The Biden-Harris administration and USDA will support farmers through the recovery process for the long haul, and this includes today’s step of making innovative types of coverage available and getting funds into the hands of producers quickly.” Hurricane Helene estimated indemnities for both HIP-WI and TS by state include: Alabama: $5 million; Florida: $12.8 million; Georgia: $207.7 million; North Carolina: $4.1 million; South Carolina: $4.1 million; Virginia: $61,000. |
| USDA also noted that Agriculture Deputy Secretary Xochitl Torres Small on Tuesday visited South Carolina and Georgia to hear from those on the ground during the recovery process. In South Carolina, Torres Small visited a local family farm and highlighted resources USDA has available for farmers as they work to recover their operations. In Georgia, in partnership with Feeding America, she helped pack emergency food at the Golden Harvest Food Bank. |
