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FMH InsureCast brings you the latest from FMH and the industry to help navigate the expansive crop and farm insurance landscape. Topics include new products to leverage crop insurance within your risk management plan, and helpful tips from FMH staff and industry experts to stay informed on industry developments.
Welcome to FMH InsureCast, a podcast created by Farmers Mutual Hail designed to deliver expertise and insights from trusted FMH team members and industry experts. Each new episode will dive into new products, industry updates, and innovative solutions. Let's get to today's topic.
Ryan Benes:Well, hello, and welcome back to the FMH Insurecast. Today we are here to discuss the performance of ECO and SCO from 2023. We just got those, yields released recently. We're gonna give an update for farmers and policyholders on recent news of a subsidy increase for ECO and what farmers should consider with these updates and how it impacts their future crop insurance decisions. So I'm very excited about this episode, Ken, because, well, for 1, by the way, Ken here is my guest today.
Ryan Benes:I forgot that sometimes I forget we're doing camera, we're doing the audio, and I forget that we, we're, not always in front of people video wise. But Ken Ripley is gonna be my guest here today to talk about these topics. I'm especially excited because ECO was actually the first ever episode we did.
Ken Ripley:Yeah.
Ryan Benes:And, that first ever episode was I don't know. About August or September of 2021, I believe.
Ken Ripley:Yeah. It's been a while ago.
Ryan Benes:It has been.
Ken Ripley:It's awesome to be back.
Ryan Benes:Alright. And so, not only are we here to talk about a change to ECO , but in the short history of ECO , we just released the largest batch of payments that we've ever had under the enhanced coverage option. So let's let's start right there, Ken. I don't know that we need to reintroduce you again, but you are a regional sales manager for Northwest, US. And tell us a little bit about your farm and where you're at again.
Ken Ripley:Live and farm up in Blue Earth, Minnesota. Unfortunately, right this year is one of the harder hit areas as far as how crops look. I I drove down to the point here. I got really jealous because crops look really good through central Iowa. So that's where I'm from and wish I was a little further south this year.
Ryan Benes:And I'm Ryan Bennis and, regional sales manager in, the Great Lakes area, which is Illinois, Indiana, Wisconsin, and Michigan, but I actually live here in central Iowa. So I guess if I were a farmer here I'd be happy but I'll just sell this stuff.
Ken Ripley:That's alright. That's a good that's alright. Less stress that way. There you go.
Ryan Benes:Okay. So it's actually June 19th today. It's Wednesday but on technically Thursday but really Friday RMA released the 2023 final yields final county yields, for all of our major spring crops And so that included our major crops like corn and soybeans. Those yields were released on Friday and then starting on Monday and through yesterday basically FMH along with a lot of the other AIPs were paying out the, county endorsements or plans that are associated with those yields. So the big ones being ECO, that's enhanced coverage option, SCO, that's supplemental coverage option.
Ryan Benes:We also had margin protection in that batch. And then if there were some area plans out there, some of those area plans will also, paid off of these yields. So not only was it just the yields that were released but oftentimes we're talking about, the revenues coming out at the same time. We already knew what our our beginning and ending prices were but we didn't know the yields. The price was the story though for '23.
Ryan Benes:Tell me tell me a little bit about that.
Ken Ripley:Yeah. Especially on corn. That was the big driver. We were down 17% if I remember right, last fall. So that was a major driver.
Ken Ripley:Apology, I don't remember exactly what beans came down.
Ryan Benes:7%. 7%. It's in the notes, Ken.
Ken Ripley:It's in the notes. Yeah. 7%. So obviously, also helped trigger things, but, that 70% drop on corn or 17 a half percent drop on corn was a major contributor to those. And there's areas not too far west assuming east of where I live, major drought this last year, so significant, yield loss.
Ken Ripley:Combine those together, those producers are they're petty still or smiling from ear to ear. Thankful for what their the payments are getting here right now.
Ryan Benes:Absolutely. So, I'm gonna start with a few numbers. I'm gonna sprinkle in a lot of numbers. I don't wanna bombard you, but just to give you an idea how large a scale this was taking all of the states that have significant corn production If we, look at all those counties, there's 14-1500 counties in that area. 81% of those counties triggered an ECO payment on corn if they took revenue if they took revenue.
Ken Ripley:That's any type of payment. That's not that's not a full payment. Any any percentage of loss would be in that 81%.
Ryan Benes:A little over 4 out of 5 counties triggered a 95% ECO payment. So that's that's a pretty incredible number. Can remind me though, just starting with that. What triggered this payment? How does ECL work where we have that combination of price and yield and why why did we trigger so many?
Ken Ripley:So the big one, obviously, we just talked about would be the price reduction, but the counties that also had so there's an expected county yields. So every county in the nation has a yield determined by the RMA of what is like the APH is how we should probably think of it, the APH for the county. So we're getting 95% of that. So these so price itself dropped us down into payments, in many cases, the full payment. But in cases where we had good yields, they maybe just got partial payments.
Ken Ripley:But it's it's a combination of getting a 95% below the expected county yield both from a revenue and a yield, point together.
Ryan Benes:Right. And across the US, yields were not that bad. In fact, in total USDA says we had the best corn crop ever.
Ken Ripley:Right?
Ryan Benes:And I think it was 181
Ken Ripley:Yeah.
Ryan Benes:0.3.
Ken Ripley:Yep.
Ryan Benes:That was the corn yield across the nation, but yet we still triggered all these payments because of what Ken mentioned with that 17% price drop. And so to give you another number there, essentially, if your county didn't have at least a 115% of your expected yield, you would have gotten an ECO payment. So as an example, we have a lot of counties in the Midwest that are around that 200 bushel expected yield. If they were anything less than 230 they were getting a payment on a 95% ECO plan. So pretty impactful.
Ryan Benes:And so if you weren't getting a payment on ECO that means your county had probably one of its best years ever. Really really good.
Ken Ripley:Yeah. And and also over the last few years, the RMA has really got those expected county yields in in not all counties, but many counties. Those yields are really very close to what a producer is expecting to grow. Like, for example, the county I'm from, 211 was the expected county yield for corn. That's a very good APH for the county from a county plan.
Ken Ripley:So that also contributed to, the performance this year.
Ryan Benes:Yes. So price drop definitely triggered in so many of those areas. Obviously, there's gonna be some sprinkled in that were that also had yield issues. But for the most part, one of the reasons we really always loved ECO is because of how well it mimics, price protection or or a subsidized put option. It's not exactly the same because we have that yield element to it.
Ryan Benes:But the value that you get with it is so good and especially when we had those high commodity prices. We started '23 with a corn price of 5.91 for for most counties, and we finished at 4.88. And when we had those higher commodity prices, it just felt like it was unfortunately a matter of time. They they they don't high high prices cure high prices. Right?
Ken Ripley:Absolutely.
Ryan Benes:And so when we we had that big slide down we were kind of anticipating it. We weren't sure if it was '23, '24 who knew it was ended up being '23. We had that price drop triggered a ton of payments. So covers price really well. ECO also does a very good job of of covering some area wide losses mainly drought.
Ryan Benes:Right? So price hits everybody. We have price falling. Drought tends to hit an area, not just specific farmers. Well, I will say that ECO and SCO, we have left that out of the conversation a little bit here.
Ryan Benes:Don't do as good a job protecting farmers from those smaller losses, the spot losses like from hail or wind or disease that are usually isolated to very small areas within a county. But that said, this is why we've always been talking about SCO and and SCO, and we're excited because there's even more news to share here
Ken Ripley:Yeah.
Ryan Benes:On on ECO . And we'll we'll get there in a second. But anything else you wanted to pull out? I know you've been looking at some numbers yourself I I did pull the numbers for the different percentages of counties that were triggered to get you an idea on beans. The total percentage of counties that triggered on beans for ECO was 50%.
Ryan Benes:Again, that's at 95% trigger with a RP policy. So not quite or or half, still pretty good on the soybeans. And then SCO, which, again, we haven't talked as much about. Corn has triggered in 46% of the counties and soybeans was 26. And there's there's slight differences between irrigated and nonirrigated.
Ryan Benes:Ken, do you wanna speak to your region a little bit about what you saw up there?
Ken Ripley:The ECO itself definitely had significantly more losses like we're talking because that's the 95 to 86% coverage band. I think the thing that surprised me the most is how many counties triggered some partial or if you're buying, let's say, an 80% multi pearl, that SCO triggering that full 80 to 86. We haven't seen that we haven't seen that in a while. So that's, you know, to have, like I say, 46% on corn triggering in that band, in the there's counties in Northern Iowa that I know of that had a 100% payment in those upper bands of SCO. So that's, it's providing good protection like we've like we've been talking about.
Ken Ripley:It's when you have the droughts, when you have the big price drop, the combination, the area plans do provide that protection for for a much higher subsidized, product, which is great.
Ryan Benes:Yeah. Couple of things I pulled out of these numbers when I was looking into some details. Indiana, Ohio, Kentucky, the percentage of counties that triggered there were not as high, mostly because they had really amazing yields. Some record yields in a lot of those counties out there. Also notice though moving to the west, I think, I'm gonna pull the the states of Nebraska and Kansas out.
Ryan Benes:And I think those 2 states have been a little bit more hesitant with these county endorsements because they do have more of those spot losses. And also being underwater a lot of lot of those, literal water, irrigation not underwater like your underwater Ken.
Ken Ripley:Yeah. Exactly.
Ryan Benes:A lot of those counties were less apt to take those county endorsements because they were more concerned about hail and wind and they had one of those major issues off the table. However, the expected county yields for those irrigated counties in Nebraska and Kansas are really good.
Ken Ripley:Yeah.
Ryan Benes:And so it actually makes it more difficult for those producers to take the top off the expected yields. And so when we have a big price drop like this, all those irrigated counties basically triggered. A 103 out of a 105 irrigated counties in Kansas triggered on ECO. 90 out of 91 in Nebraska triggered on ECO for irrigated counties in Nebraska. So if you're looking at ECO just as yield protection, I can totally buy that the irrigated may not make a lot of sense.
Ryan Benes:But in terms of price protection, it did an excellent job of protecting those producers against price.
Ken Ripley:Yeah. And the other thing too, I mean, looking at some of the South Dakota counties that I, cover, one thing that I found that was interesting is truly last year's weather was the haves and have nots, and we could be talking 30 miles difference. 1 county triggered a 100% on ECO and the next county triggered 44%, But they had record yields in that county. So number of producers and have talked to several agents here in the last few days that producers that had good crops and getting an ECO payment are really, really liking this program. So, especially when with the troubles we've had with prices, I mean, you know, no matter how good you yielded, unless you're a really great Ford marketer on grain, we've we left a lot of left a lot of revenue on the table from a from a cash sale of the grain.
Ken Ripley:So I know there's a lot of producers right now that are really enjoying this influx of cash at a cash tight time in the farm economy. So, that's a definitely a plus, for producers.
Ryan Benes:Yeah. So in addition to all the payments that are going out this week for ECO , SCO, and margin, Why don't we throw a little gas on the fire, Ken?
Ken Ripley:Let's go.
Ryan Benes:Let's throw a little gas on the fire. The gas is gonna be the fact that ecos subsidy rate is moving from 44% up to 65% for the 2025 crop year. Wow.
Ken Ripley:That's that's big. That's
Ryan Benes:significant.
Ken Ripley:21 points.
Ryan Benes:21 points. Unheard of. And if you, happen to have that premium bill around from last year and you looked at your ECO premium, you can take that times about 62%, and that's how much the premium would cost with this new subsidy environment. So it is significant amount. Per acre cost on ECO, if you'd if you went all in and you bought it at a 100% last year was probably around $30 for a lot of farmers.
Ryan Benes:This next year that's gonna be $18.75. So it definitely makes it more affordable, and we can see how effective it is. Yeah.
Ken Ripley:Just for clarification. Yeah. Just a reminder, that's 2025. Yes. So if you bought ECO in 2024, that is it's not retroactive.
Ken Ripley:It's the '25 crop year forward. So, unfortunately, it's it's not retroactive.
Ryan Benes:That's right. That's right. Nope. Thank you, Ken. So we have heard a little bit, and I've even mentioned in previous episodes about our, potential farm bill changes that are coming.
Ryan Benes:This is not in the farm bill. This was done outside of the farm bill. So we are not waiting on the farm bill. This will happen for 2025. There are still pending proposals out there in the current farm bill proposals that have been out, released.
Ryan Benes:So to be clear, ECO, this change with the subsidy is not in the farm bill. We talked previously about SCO, being potentially increased in the subsidies through some of the Farm Bill proposals that we've seen out there so far. That is still a possibility, but this change for ECO is effective for '25 and it's not pending the Farm Bill. It's already been done. So, very excited about that.
Ryan Benes:That came about a little bit because of a a new product that is going to be available for 2026, which is MCO, which is gonna be a whole another episode, I'm sure, at some point. But MCO is margin coverage option. Just a mash up basically between ECO and margin protection. That will not be available until the 26 crop year, so that will be marketed next fall. But in the meantime, we will have that better subsidy available on ECO and, really, it'll be starting here with some of our our fall crops that we have sales closing dates on.
Ryan Benes:A couple other tidbits there would be because MCO was introduced. It was introduced at a 65% subsidy and that 65% subsidy then was also applied to ECO. And it and it makes some sense because it's it's got the same subsidy level as the hurricane insurance which is 65%. That's the HIP-WI insurance. So it makes some sense that it's also at 65.
Ryan Benes:However, margin protection itself will remain at its current subsidy level. So in the '25 year, we'll have ECO at 65%, SCO at 65%. In 26, we'll have ECO at 65%. We'll have the new product MCO. And then SCO, we'll we'll see we'll see what the farm bill brings.
Ryan Benes:But for for right now it's also at 65%. So a lot of acronyms there. Save me from myself, Ken. What are we what does this mean for our risk management strategies for 2025?
Ken Ripley:Well, I tell you, you know, this last year, I know a lot of producers looked at ECL trying to decide is that the right thing? Because it like you mentioned $30 an acre. It's so it's not just a it's a no brainer decision, Ash. I have when when payments have occurred, it's a no brainer. Right?
Ken Ripley:If I could go back in time, I'd put it on, put it on last year. But the reality is now if we're in that $18 range, that completely changes your buying decision on that. Now this is a product that's gonna have great play because, you know, to do this as an option, because I've done on my own farm some years where I've just done a put to protect from a cost standpoint just to keep that cost down. Now the reality is getting a yield component with the price protection at that much of a reduction is a becomes you don't wanna use the word no brainer, but it it definitely changes that buying decision dramatically, and gives you that individual or in that, that extra, 9% coverage that you just can't do on the public market for that level.
Ryan Benes:Right. I think, just to be clear because I think sometimes we do use the term no brainer. I think I wanna be clear on that. It's not so much that it's a no brainer. It's just that with that subsidy level, the value just becomes so significant.
Ryan Benes:Yeah.
Ken Ripley:It's awesome.
Ryan Benes:That it's hard to ignore. It's like does everybody need, a Cadillac Escalade? No. But what if the Cadillac Escalade was only $20,000?
Ken Ripley:You know? You'd think pretty hard about that.
Ryan Benes:You'd think a little harder about having a Cadillac Escalade. Right? And that's kinda what what ECO is. Right? It's a high end, product out there that just got really cheap.
Ryan Benes:And so that's how we look at it. And so it is it something that everybody needs? No. But darn it if it isn't a really tremendous value.
Ken Ripley:Yeah. It's something you definitely have to take a look at. If you haven't looked at it, it's a product that's needs to be considered in weigh the pros and cons for your operation, but that price drop changes that decision significantly.
Ryan Benes:Yeah. So a couple other takeaways just because of this subsidy change. I think it opens up more regions to ECO. I think we'll see it sold and bought more outside of where it's been bought previously which is probably the middle eastern part of the corn belt. It's probably the heaviest area.
Ryan Benes:I think you'll see that expand out of the corn belt a little bit and also to other crops. So we we get a little focused here on corn, soybeans, and wheat, but we have ECO on all all sorts of crops. We have it on dry beans and sugar beets and forage production and all sorts of other things I can't even name and figure think about right now. Canola, I mean, it's out there on everything. I think it's well over 30 crops that ECO is available on.
Ryan Benes:So once again, do you necessarily need it on all those crops? Maybe not, but the value is so tremendous. It's hard to ignore.
Ken Ripley:But one thing to add to that too, just remind our viewers that ECO doesn't require a underlying multi peril to to marry up to it. So you could have the 80 assuming the 95 to 86 band of ECO or 90 to 86 band of ECO and then leave a gap and do your 75 or 70 multi perils. You're not required to have it touching each other from from an RMA standpoint. So that's also if you want to move that risk strategy toward the higher triggers on a county base. This flexibility in the product is there.
Ryan Benes:Yes. Most definitely. Oh, and a reminder there too. Unlike SCO, ECO not tied in with those FSA programs. So not only do we have a great value, but we don't have those other considerations.
Ryan Benes:We're not weighing it against whatever we're giving up at the FSA in terms of FSA programs. So also nice there. Couple other things I think that will happen because of this. I do think we'll see some shift away from margin protection because margin will not have the advantage of this additional subsidy. It'll just have the same one it has previously.
Ryan Benes:I don't know that that's necessarily a bad thing. It's nice to have that all price, but when you're saving $11 an acre and ECO was already a little cheaper to start with, it just feels like we're gonna shift a little bit more away from margin protection. And RAMP FMH, we've had a long history with ramp and it's been it's been a a roller coaster of good and bad in some places. We've had some good good years and bad years with RAMP, but it's been a product that's been a hot one. I think we'll see a pretty massive shift away from RAMP as well.
Ryan Benes:RAMP is a fine product where it is, but we just can't offer it at anywhere close to the rate that ECO is.
Ken Ripley:Yeah. That subsidy, we just can't. You know, 65%. That's significant.
Ryan Benes:Yes. Ken, maybe I'll I'll hear your opinions on this. Will we see a shift away from hail and wind?
Ken Ripley:Yeah. You know, that's gonna vary by region. If you're in an area that constantly is getting and where your frequency of hail and wind is, you know, it's gonna happen every year. Probably not just because that's your number one peril, you're gonna wanna buy that peril. But if you're in a, say, a 1 in 4 years, you're getting hit with those perils, yeah, I think absolutely.
Ken Ripley:Because now you can you're adding in cause you are getting wind and hail with ECO. It's just it's at a county level. Mhmm. But if if your farm is getting hit every year, I think you're still gonna probably stay with wind and hail. But if but if you're not and you're maybe that 1 out of 3, 1 out of 4 or or or more, I think you'll see producers say, let me get the let me get the price protection.
Ken Ripley:Let me get the yield protection, and every other peril
Ryan Benes:that
Ken Ripley:is part of the multi peril. So that's, yeah, it's gonna vary by area.
Ryan Benes:Yeah.
Ken Ripley:I mean, Nebraska, I don't know. That's that's a state that gets a lot of wind and hail. Yep. I mean, we'll have to see what they do. I
Ryan Benes:don't know. Interesting. It will be. It will be. I do think we'll see a little bit of it.
Ryan Benes:I don't think we'll see a ton, but it is gonna be perhaps a a shifting of where we place our our premium and what buckets do we place our premium. So, again, I I came up with a few ideas on how we can fit ECO into our insurance package. And and some of these have already been put into place by farmers in the past, but, I just added some new ones here that might be more relevant with the subsidy change. The first one I had is to just simply buy it. The the value's there.
Ryan Benes:They're, maybe somebody's buying 80% enterprise unit today, but they want that price protection. They want that extra yield protection, and and it's a reasonable cost, but triggers at 95%. We're getting payments almost every other year on ECO in many counties. What do you think about that strategy?
Ken Ripley:Yeah. I think that especially with this subsidy increase, we're definitely gonna see that the producers that were on the fine line, you know, when they're looking at that $30 an acre now dropped to 18, you're we're gonna see a lot of producers drop into that just buy it because it's it's got to a point where that's a much more palatable, purchase for the operation.
Ryan Benes:To be clear, that $30 an acre is is probably at the high end. That'd be on top of a revenue policy at a 100% of the price at 95% level. So that's about as expenses expensive as it could have gotten, and now about as expensive as it can be is $19 an acre. So that's a that's a it's a great buy. How about lowering our our individual level and then buying ECO?
Ryan Benes:So we gain some savings, but then putting ECO out there, which is gonna place our liability up at a much higher level. Say 95 versus 85 or 95 versus 80. What do you think about a strategy like that?
Ken Ripley:Yeah. I'm seeing that already in some of my states, especially, you know, like when we get in the Dakotas where the underlying multi peril is just more expensive. Now putting that top end, getting that higher trigger, especially if the expected county yield is good for your county, that is I know that's gonna be an uptick in especially in the Dakotas. But when we have, you know, we have so many dollars we wanna spend. I mean, their total package is usually more than what I'm spending at an 85.
Ken Ripley:So I can see producers saying, yeah, I wanna put that top in 95 on. I'm gonna keep my underlying at that 75 or 70, just till I have decent, coverage for prevent plant. So it's, no question that is gonna be a play in our states with the higher, underlying multi pro cost.
Ryan Benes:Awesome. And, of course, we can't forget about, product we've talked on here before about which is ECO Plus, which helps cover in those spot losses. So for instance, if, if we were in Nebraska and we happen to be in one of those counties where it didn't trigger, but we did have some hail or wind, ECO Plus there to protect us from those losses that are not covered under the county plan. And, frankly, with the change in the subsidy, we can now buy ECO and ECO plus for very close to the same rate as what ECO was by itself previously.
Ken Ripley:Yeah.
Ryan Benes:What do you think about doing something like that?
Ken Ripley:Yeah. There's no question we're gonna have demand for that product. My my big fear is we're gonna have we're gonna have enough capacity. Yep. But the, the there's this year, we're seeing that that package worked well where producers had were hit worse than the county was, and that plus picked them up where the county stopped, which is what that product's designed to do.
Ken Ripley:So no question that's gonna be a very popular product, next spring.
Ryan Benes:Yes. Any other takeaways you have just in general, Ken? Some early conversations you've had with with agents or or thoughts yourself, either through either from the the release of the '23 yields or looking forward to to '25.
Ken Ripley:Yeah. You know, already, I've had a number of agents this week reaching out and saying how much they've enjoyed calling and letting their growers remind them of these payments that are coming that people forgot about. So it's like say a nice influx of cash to their operation. But on top of that, it's it's like, okay. It we we didn't coach you down the wrong path.
Ken Ripley:This was the right product, and it performed and give a lot of producers that understanding of how this product works. So I think that was a positive. It's always good to have a a year of some losses just to show, hey, it is working like we've told you. And in this year, '23 definitely, performed, provided that type of support for that. So, yeah, I I'm excited for for '25.
Ken Ripley:This is gonna be a a fun selling season.
Ryan Benes:Yes. It is. I'm excited too. I'm excited too. We have talked at least a little bit on the podcast about a new quoting system that we have coming out at FMH for 2025 as well.
Ryan Benes:And not for fall, but for spring crops, we expect that the quoting system will be up and running and of course, ECO, ECO plus these changes are all gonna be incorporated into that new quoting system and some of the tools we have in there. I'm really excited to see what they look like with this new subsidy and how they can show the value of ECO . So, excited for our agents to be able to use those tools and show farmers how valuable something like ECO and ECO Plus can be.
Ken Ripley:Yeah. I'm Ryan and I are both on the development of that product, when we're gonna be calling I think I can Yeah. Give the name, can't I? FMHQ. FMHQ.
Ken Ripley:And it's like it's like waiting for this baby to be delivered. We've been working on this thing for a long time, so I'm so excited to have that brought out and giving agents and customers some tools that can have some look back and some just some analysis. So, yeah, I I couldn't be happier. So it's a great year coming. 2025 is gonna be the year ever.
Ryan Benes:No. Thank you for that Ken, and thanks again for joining. Now, Ken, I am gonna get my head shaved tomorrow night. Are you are you joining me?
Ken Ripley:I am not. You must've got the lottery because I got mine in a couple years ago. Okay. So I did contribute to your, to your fund.
Ryan Benes:Much appreciated. I have had, a lot of donations out there. I know a lot of the, the folks listening to this podcast or watching, have donated. So very much appreciated. Appreciate it.
Ryan Benes:And next time you see me, I will be a little shorter on hair. So, maybe just missed a couple of days to see the real white white head or maybe sun burnt by the time I I have a couple days under my belt, but, looking forward to participating in what will be a great event and we've already raised a lot of money and now we're gonna raise some more, but again, it's for Saint Baldrick's. It's, for childhood cancer research and awareness. So looking forward to it.
Ken Ripley:Yeah. Great job.
Ryan Benes:Yeah. Thanks, Ken. And, any closing remarks, Ken, before I sign us off here?
Ken Ripley:Like I said, looking forward to 2025. I'm just hoping that, we'll move some of the rain from southern Minnesota and northern Iowa to other parts of the country that need it because we need our crops to turn around because it's, it's a challenging year in that, geography. So
Ryan Benes:Wonderful. Awesome. Well, thanks again, Ken, for joining, and thank you to all who are listening or watching. And don't forget to subscribe to, the podcast or YouTube channel. And, we'll talk at you again soon.
Narrator:You've been listening to FMH Insurecast. We appreciate you joining us today and would like to hear from you. If you have questions about today's topic or an idea to share for an upcoming podcast, you can contact us at FMH podcast at FMH dot com. Thanks for listening. This podcast is intended for information purposes only.
Narrator:See policy provisions, terms, and conditions for details. Products underwritten by Farmers Mutual Hail Insurance Insurance Company of Iowa and its affiliates, West Des Moines, Iowa. Farmers Mutual Hail is an equal opportunity provider.