Crop Insurance

Table of Contents

 

Introduction

2

Agricultural Insurance Covers Four Primary Categories

3

Yield-based, Revenue Insurance & Named-peril Plans

5

Livestock Insurance

6

Property and Casualty (P&C)

6

Adjusted Gross Revenue: Agent Responsibilities

6

Crop Producer Responsibilities

8

Filing Annual Farm Reports

8

Notification of Changes to Reported Expected Commodities

9

Additional Acreage

10

Crop Changes Due to Unavoidable Disasters

10

Reporting Events that Result in Probable Loss

11

Abandonment, Disposal or Destruction of Crop

11

Producer Claim Cooperation Required

11

Risk Management Agency (RMA)

13

What is Crop Yield Insurance?

14

Crop Revenue Coverage (CRC)

14

Multiple Peril Crop Insurance (MPCI)

15

Income Protection (IP) & Revenue Assurance (RA)

16

Group Risk Income Protection (GRIP)

17

Add-On Protection

17

Yield-Based Crop Plans

17

Actual Production History Plan (APH)

17

Group Risk Plan (GRP)

18

Revenue Insurance Plans

25

Crop Revenue Coverage (CRC)

26

Group Risk Income Protection (GRIP)

27

Income Protection (IP) & Revenue Assurance (RA)

27

Policy Endorsements

29

Catastrophic Level of Coverage (CAT)

29

Producer Obligations

29

Crop Producer Expectations

29

Important Policy Deadlines

29

New Policies & Policy Expansion

30

Federal Crop Insurance Corporation

30

The Insurance Contract

31

Terms

32

Listed Events

35

The Insurers Will Pay When

35

Exclusions

36

Commodity Programs Legislation

36

In the News

40

 

United Insurance Educators, Inc.

Email: mail@uiece.com

(253) 846-1155