Aug 21 - Crop insurers will see some of the worst underwriting results on their books of business this year since the drought of 1988, according to a report published today on RatingsDirect by Standard & Poor's Ratings Services titled, "Drought Will Hurt U.S. Crop Insurers, But Won't Dry Them Up Completely." Farmers in the most affected states are expecting one of their worst harvests since the drought in 1988. As a result, crop insurance books of business will see some of the worst underwriting results since 1988. Primary insurance companies will share crop losses with the federal government and private reinsurance companies, making the underwriting losses easier to take. "Underwriting losses will be a drag on earnings, but by themselves, will likely not affect the capital of most insurers that we rate. Consequently, we do not expect to take any rating actions solely because of crop insurance losses at this time," said Standard & Poor's credit analyst Jason Porter. The report is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 or sending an e-mail to email@example.com. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com.