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Fall Losses
We are once again expecting losses in some parts of our
territory this fall. Please be aware that you need to notify
your insurance specialist or their insurance CSR as soon as
you know you have a loss. Reporting dates for losses are
shown in the Important Dates section of this newsletter.
Important
You must obtain consent from the insurance company before
you:
-
Destroy any
portion of a crop not harvested – you may proceed with
destroying the crop, BUT you must leave a representative
strip as discussed with your insurance specialist.
-
Put a crop to
an alternative use (ex. Grazing of livestock).
-
Abandon the
crop.
Appraisals will be done on any portion of a crop not
harvested to obtain production information.
Commingling Harvested Production
This year you must have authorization from your insurance
company before you place grain from more than one unit into
a storage structure. This authorization will be written or
by phone depending on the insurance company you are with. If
you do not receive this pre-authorization, the units that
you have commingled will be combined this year and next
year. We are in the process of preparing lists of
policyholders who we think could be commingling this year.
You could help us out by letting us know for sure if you
plan to commingle grain. If you plan to commingle grain and
you do not receive authorization from your insurance company
before harvesting, please let us know. If you do not plan to
commingle grain and you receive authorization, you do not
need to do anything.
Commingling Instructions
If you are commingling grain, the production for each
separate optional unit must be marked with a permanent
marker with unit number, then initialed and dated by a
disinterested third party. These bin markings need to be
supported by load logs, scale tickets or yield monitor
printouts.
Fall Billings
Bills for multi-peril crop insurance will be sent out in
September and will be due October 1, 2002. Bills for those
of you who chose to pay for hail insurance in the fall will
have different due dates this year depending on the
insurance company that you wrote with. The bills are
generally mailed 25 days before they are due. All payments
should be made payable to 1st Farm Credit Services.
Reporting Production
Turn in your production to your crop insurance specialist or
insurance CSR as soon as harvest is finished. They can help
you calculate whether you have a loss. In most cases, you
can use your Schedule of Insurance to report production. If
that is not possible, you will be sent a production
reporting form later this fall. Remember to sign the form,
and feel free to use the return envelope.
Added Land
As in recent years, producers need to inform their insurance
specialists as soon as they are aware of new land in their
operation for 2003.
Wheat Coverage Deadline – Sept. 30, 2002
Now is the time to determine coverage for your 2002 fall
wheat crop. Contact us now to sign up for coverage or to
review your existing coverage with your crop insurance
specialist. The final plant date for wheat is October 20.
Previous year’s production and current year’s acreage report
must be completed by November 15. Premiums are due July 1,
2003.
Important Dates
October 1
Spring MPCI premium due (corn & soybeans).
December 10
End of insurance period (corn & soybeans).
December 20
Final day to submit CRC loss notice. In addition, soybean RA
and IP losses must be submitted. |
