RISK MANAGEMENT
CROP INSURANCE DATES TO REMEMBER
July 15 Acreage reports due for all spring-planted crops . Reports must be completed , signed and received by your agent by this date .
August 15 Premiums on spring crops will be billed .
September 30 Sales closing date for fallplanted crops . This is the last day to make any changes to an existing MPCI fall policy or to create a new policy .
September 30 Premium / fees due on spring crops .
October 31 / November 15 Final plant date for wheat . Contact your agent for details .
November 14 Production reporting deadline for 2017 wheat crop .
November 15 Sales closing date and acreage reporting for Pasture Rangeland Forage Insurance ( Rainfall Index ).
December 10 Insurance coverage ends on spring crops .
December 15 Acreage reporting deadline for fall planted crops . Reports must be completed signed and received by your agent by this date .
Acreage Reporting
Reports are due July 15 , 2017 .
Federal Crop Insurance Corporation ( FCIC ) rules require accurate and timely reporting . FCIC rules implement severe penalties for misreported liability . Your liability is determined by the acreage shown on your report .
a few reminders to help you report correctly
• A multi-peril crop insurance ( MPCI ) policy requires you to report all acreage of crops , both insurable and uninsurable , in which you have a share . This also includes prevented and late planted acreage .
• Added land must be reported with farm numbers , legal descriptions and shares . Please contact your agent as soon as possible prior to July 15 if you have crops planted on land that has not been planted to a crop in the last three years . ( Exceptions apply for ground coming out of Conservation Reserve Program ( CRP ) within the last three years .) A new breaking insurability request must be completed for consideration for insurance .
• An acreage report must be signed and submitted for every policy even if you have no share or zero acres to report for 2017 .
• Providing the initial planting date for each field is required . If any acreage was planted after the final plant date , these acres must be reported separately due to the late plant reduction in guarantee .
• Prevented planting ( PP ) acres need to be shown on your report even though you may have already reported a claim . If you have chosen to file a PP claim , be sure to discuss with your agent and adjuster your options for your total crop plan .
• Double check the pre-printed share percentages for each unit to make sure they are still correct . Be sure to note any changes .
• Make sure your policy name is consistent with how you are reporting to Farm Service Agency ( FSA ) and selling your grain .
• All acreage reports need to be completed , signed , dated and returned to your agent no later than July 15 , 2017 . The report needs to be signed by the policyholder or authorized representative for the policy or entity .
• Any revisions to insured liability after July 15 have to be approved by the insurance provider . In most cases , a request that raises liability after July 15 will be denied . Review the acreage report being submitted for accuracy .
• A schedule of insurance or summary of coverage will be sent to you after your report has been received and processed . Please review this information and notify us of any errors . Sometimes corrections can be made or requested if an error is determined .
• Always contact your agent if you have any questions . Note : Pending claims ( replant , PP , etc .) cannot be paid until your acreage report is completed and processed .
22 HEARTBEAT | SUMMER 2017