This plan provides protection against the loss of insured
revenue due to an unavoidable natural cause of loss that
occurs during the insurance period and will also provide
carryover loss coverage if you are insured the following year.
Livestock Products
The extremely volatile conditions of the market often cause
producers to have more questions than answers, especially
in determining how to manage the downside effects
on their business. Livestock Risk Protection (LRP) and
Livestock Gross Margin (LGM) are viable and flexible ways
to manage the risk associated with price volatility, increasing
production costs and tightening profit margins.
Livestock Risk Protection is available for feeder cattle,
fed cattle, lamb and swine and insures against a decline
in market price s. Producers may select from a variety of
coverage levels and insurance periods to match the time
the animal(s) would normally be marketed. Coverage is
purchased on a per head basis (up to specified limits) and
is available year-round. At the end of the insurance period,
if the actual ending value is below the coverage price, an
indemnity would be paid for the difference.
Livestock Gross Margin is available for dairy cattle, fed
cattle and swine and insures against falling income and
rising feed costs. Producers select the months within the
insurance period that best fits their risk management plans.
Coverage is purchased on a per head/cwt of milk basis
up to specified limits. At the end of the insurance period,
if the Actual Gross Margin is less than the Gross Margin
Guarantee, the policyholder may receive an indemnity.
Private Supplemental Products
Every approved insurance provider carries their own line
of privately offered supplemental insurance products.
This line can include Crop Hail, Named Peril, Replant
Option and other price-based products. Crop Hail provides
supplemental, acre-by-acre coverage for hail, but can also
provide coverage for fire, transit and vandalism. Named
Perils provide supplemental coverage for wind and green
snap, but vary by provider. Replant policies provide
additional replant coverage on top of your underlying
MPCI, APH or area policies and have crop and availability
limitations depending on the provider. Price-based products
provide protection against a loss of revenue, and similar to
replant coverage, vary by provider and coverage area.
| May - June 2017 | KANSAS INSURANCE AGENT & BROKER
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