Upload
others
View
0
Download
0
Embed Size (px)
Citation preview
King Crop News Brought to you by King Crop Insurance, Inc. CELEBRATING Over 50 YEARS September 2019
Do you have changes to your policy? Increasing your level
of coverage? Do you want to add options? Adding a crop?
It is important to share with us any changes to your farming
operation i.e. irrigation added, land added, NBG, expanding to
a new county, acres emerging from CRP, adding a crop, etc. If
you have any changes to your entity i.e. death of an SBI, did
you get married, have name change, etc. Please let us know
by Sept 30! Failure to inform us of any changes may put your
insurance coverage in jeopardy.
* SBI = Person of Substantial Beneficial Interest in your farming operation
Sales Closing Deadline September 30
Fall Crop
Discovery Prices
As of 9/10/19
Wheat $4.93
Barley $3.22
Prices Based on CBOT
CORN – SOYBEANS – GRAIN SORGHUM Notice of Loss must be entered by DECEMBER 10
If you have or anticipate a loss on the above crops – let us know so that we can enter a notice of loss.
Call 302.855.0800 / email [email protected] / Text 302.470.7348
Want to contact us but don’t have time to talk or you think of
something at 11:00 p.m. and you don’t want to wake us ………
Text us at 302-470-7348. Remember to identify this
number in your phone as King Crop so you know who is texting
you back!
So, what’s new? What do you need to know?
Beginning this fall you will receive a Production Work-sheet with the Schedule of Insurance (SOI). You can use this Production Worksheet to return your production at time of harvest. We will continue to send another copy of the production report at the appropriate time. You will find the SOI and Production Worksheet has changed and offering more information than in the past. It now references the discovery price for the designated crop, your guarantees, approved averages, acres planted and farm names. It is imperative upon receipt of your SOI you review the infor-mation carefully to insure it is correct.
Production for Wheat & Barley is Due November 1!
Acreage Reports Due for Wheat & Barley Due 12/1!
Do you know you could receive your indemnity payments 5-7 days sooner if you had Direct Deposit? Sign up for di-rect deposit on RCIS.com today!
Supplemental Coverage Option (SCO) can be selected by September 30 for Wheat & Barley if you have chosen PLC at FSA. If you choose SCO coverage and decide to select ARC at FSA and do not cancel your SCO coverage by 9/30 you will be charged 60% of the SCO premium. Remem-ber, if you want SCO on a designated crop you must select PLC to participate in SCO coverage.
Changes for the 2020 Whole Farm Revenue Protection (WFRP) policy:
Increase expected revenue limits for animals, animal products and nursey commodities increased to $2 million from $1 million
Can exclude lowest historical revenue year due to a disaster year
Industrial Hemp production will be covered under WFRP
Excludes disaster and program payments from historic allowable revenue and revenue-to-count at claim time
If you have questions and/or interest in WFRP Call Us!
RMA has extended the period of time for interest charg-es for premiums billed on August 15. Premiums not paid by September 30 for spring planted crops will not be charged interest until December 1 versus October 1. If pre-mium is not paid by December 1 the interest charges will be retroactive to October 1.
Call today for a quote to re-view your wheat and barley coverage.
302.855.0800
5pm— Reception and Entertainment 6pm Dinner and Awards Ceremony
8pm—11pm Entertainment by Indian River Band One Conference Center
Delaware Technical and Community College Terry Campus 100 Campus Drive Dover, Delaware
Call 302.697.3183 to Inquire about Sponsorship
& Purchase Tickets
Delaware Farm Bureau
75th Anniversary Celebration
Save the Date
December 7
Northeastern Region Farm Computer Usage and Ownership
General computer usage and internet access categories increased
from 2017 to 2019 in the United States. Nationally 75% of
farms reported having access to the internet, with 73% of farms
having access to a desktop or laptop computer. Farms that used a
desktop or laptop computer to conduct farm business was up 1%
from 2017. Over half of the farms in the United States used a
smart phone or tablet to conduct farm business, compared to 44
percent in 2017. In 2019, 26% of farms used satellite and 22
percent of farms used a DSL to access internet. Since 2017, Sat-
ellite and DSL continue to be the most popular choices that Unit-
ed States farms use to access the internet.
Source: National Agricultural Statistics Service
Written Unit Agreements
Written Unit Agreement (WUA) can
be used to separate farms which
have been grouped into a single
farm serial number by FSA. The
optional units established by the
WUA may be used in accordance
with applicable policy provisions to qualify for enterprise
units. In other words, we may finally have a way to sepa-
rate some of those farms that have been reconstituted under
a single farm serial number. The FSA requirement to group
farmer owned land under a single farm serial number has
had a major impact on crop insurance coverage. We are
required to insure by farm serial number and practice.
There could be a negative impact whether you use optional
units or enterprise units. The WUA may provide an option
for us to break the large farm serial number into smaller
pieces.
A WUA is going to require a complete review to deter-
mine if it will work for your farming operation. We have to
meet some very specific criteria to qualify for a WUA. The
WUA is created by boundaries around the farm(s). These
boundaries have to be defined by permanent enclosures
such as ditches, roadways, waterways, railroad tracks, per-
manent fences, etc. RMA requires a one-mile square grid
fit within the created boundary of the WUA. The process
is tedious but the benefits to your crop insurance coverage
can be significant. For example, various farms can be
sometimes 10 miles apart in different weather patterns or
have different soil types but yet they are grouped under one
farm serial number. Under a single farm serial number, a
loss on one farm and good production on another farm can
bump you out of a claim.
King Crop Insurance has raised the issue of the
“oversized” farm serial number for several years. Farmers
throughout the country are now voicing their concerns re-
garding the impact of the “over sized” farm serial numbers
on their crop insurance. Last November, this issue was
voiced directly to the RMA Administrator, Martin Barbre
and our Regional RMA Administrator, Alex Sereno at the
King Crop Insurance farmer meeting in Greenwood. I think
they are listening!
Alex advised us efforts are being made at RMA to move
from insuring per farm serial number and practice to tract
number and practice. The approval for the change may take
up to three years. In the interim, we will continue to offer
to work to create WUA’s.
Catastrophic Coverage Fee Increase
2018 Farm Bill increased the CAT fee
from $300 to $655. CAT policies pay
indemnities for losses in excess of 50%
of the APH yield at 55 percent of the
established price. A producer can sign
up for CAT coverage for a flat fee of $655 per
crop per county.
Sales Closing, September 30 for Wheat & Barley
Some fun at the Pig Kissing Contest
at the Delaware State Fair
In July Jackie and Donna had an opportunity to
have a little fun at the 4-H Foundation Pig Kissing Contest. The
contest is to raise funds for scholarships for the Junior Exhibitors
at the fair. This year the 4-H Foundation raised $13,100 for the
Junior Exhibitors Scholarships and Jackie and Donna raised
$3387.25 with the help of
many of you. We
THANK YOU! It is a
great joy to assist in any-
way we can to make sure
we keep agriculture in the
forefront in our state and
to support our up and
coming young farmers.
Other Sightings from the Delaware State Fair
RCIS Producer Services Go to RCIS.com to sign up for the Producer Portal allowing you to view and digitally
sign documents including claims. Access your crop insurance policy at any time by simply entering your policy
number. Contact King Crop Insurance to sign up for Direct Deposit to have your claims payment deposited direct-
ly into your account within two business days of finalized claim. When the funds are transferred you will receive
an e-mail notifying you a deposit has been made.
Do You Need Proof of Insurance for a Lender?
Crop insurance is important for securing loans. Lending in-stitutions are careful in making loans to farmers be-cause the risks of farming are inherently high and loans are big. They are reluctant to make a loan to a farmer who does not have crop insurance much the same way a bank is reluctant to make a mortgage or auto loan to a buyer without insurance. Lenders regard a crop insurance policy as necessary collateral in making a loan to a farmer. King Crop Insurance can provide that “proof of insurance” no matter who your lender is. The Schedule of Insurance docu-ments the crops and the coverage you have on each farm. Please call us if you need proof of insurance for your lender. At your request, we can assign the right to an indemnity payment under your policy to a creditor by executing an Assignment of Indemnity form. Let us know if we can be of assistance provid-ing proof of insurance or assignment of indemnity.
Jackie’s Corner……...
Rainfall Index, Pasture, Rangeland and For-
age (PRF) and Apiculture (API)
“Agriculture is the most healthful, most useful and most notable employment of Man.” - George Washington Sales Closing, September 30 for Wheat & Barley
Here we are again, in full swing of harvest season, now that
hurricane Dorian has passed, we all can breathe a little easier.
Since meeting with RMA Administrator, Martin Barbre and
Regional Director, Alex Sereno last November we have had a
couple of meetings to review the progress of the topics you
brought to the table. During our most recent face to face meet-
ing in August with Alex we learned for 2020 crop year any
changes to our double cropping requirement is dead in the wa-
ter! However, it is still on the table going forward. As you
know we will not give up on having the requirements of double
cropping changed for areas that commonly double crop. For
lima bean grower, RMA should have new actuarial in place for
2020 crop year. We hope this change will eliminate the area
rating maps and provide transitional yields. We will know if
this change goes into effect by November 30th for next year, if
not will be for 2021. RMA and the FCIC Board is looking very
closely at allowing you to insure by Tract vs Farm Serial Num-
ber (FSN). If this is approved, it would not take effect until
2021. In regards, to insuring edamame, we will not be able to
for 2020 crop year but hoping for 2021. Beginning crop year
2019 we were able to insure under the private product for hail
only and will continue to be able to insure edamame for future
crop years for hail only.
As we all know change takes time. In crop insurance some-
times little longer time is needed. For any policy changes it
must be applied to all regions, therefore each region requires
review. For any procedure changes we have a better chance to
add to local areas by adding to special provision in the county
actuarial. Either way we need our RMA folks to assist us in
moving forward. Please keep your thoughts and ideas on chang-
es and improvements coming our way as we will continue to
voice them to RMA.
On the 2018 Farm Bill, which has much in common with the
previous farm bill, please investigate the difference which can or
will affect your crop insurance coverage.
USDA says… FSA will open the ARC/PLC
elections for 2019-2020 crop years beginning
September. Please be sure you understand
what you are electing for 2 years and remember the 2018 Farm
Bill allows you to change your elections for 2021 crop year.
The 2018 Farm Bill included a Specialty Crop Liaison in each
RMA Regional Office that will provide localized expertise to
the Specialty Crop Coordinator. RMA will submit to the FCIC
Board at least one insurance product covering both a new and
current specialty crop and expand a current insurance product
for at least one specialty crop per year. Specialty crops include
fruits, vegetable and nuts. Please let us know what you want us
to submit. We have discussed edamame but what other crops do
you want us to promote for insurance coverage? While the farm
bill did not directly change the Supplemental Coverage Option
(SCO) however, FSA ARC and PLC programs changes impact
both due to existing prohibition for multiple programs. You can
only have SCO if you elected PLC on that crop and FSN. You
are required to report to us which farms you have elected
PLC for insurance on SCO. As that is not a change, the penal-
ty not to report which farms has PLC and/or ARC when you
elect to take SCO for that crop could result in a 60% premium
due for SCO but no indemnity coverage.
As always, please do not hesitate to contact us with any ques-
tions or suggestions.
Have a safe and bountiful harvest. Jackie
The Rainfall Index insurance plan coverage based on a grid
rather than individual farms and designed to insure against a
decline in precipitation within the grid. It does not measure,
capture, or use the actual production within the
area. The lack of precipitation is the only cause
of loss. The grower selects coverage levels from
70% to 90%, a productivity factor from 60% to
150% and selects at least two , 2 month periods
where precipitation is important to their operation. The Pas-
ture, Rangeland and Forage (PRF) helps provide protection
from increased feed costs due to forage losses. Growers do
not have to insure all their acres, only those acres important
to their operation. Included under the Rainfall Index plan is apiculture cover-
age which provides protection against the loss of honey pro-
duction due to insufficient plant growth caused by below
normal precipitation. Not all the colonies within the opera-
tion must be insured.
Sales Closing for Rainfall Index is November 15th.
King Crop Insurance, Inc.
101 W Market Street
Georgetown, DE 19947
Sales Closing
Deadline
Sept 30th
Sales Closing for Fall Crops
Deadline for Making Changes to your MPCI Policy
September 30
• Change Your Insurance Coverage
Level of Coverage
Plan of Insurance
Unit Division (Basic, Optional, Enterprise)
Coverage by Practice
• Entity Type Changes (divorced, married, LLC partnership, etc.)
• Have you added land or added land in another county
• Address Change, phone number change, email change, etc.?
Contact us Today 302.855.0800
Upcoming Events:
Sept 30 Kent County Farm Bureau Banquet
Oct 5 Sussex County Farm Bureau Banquet
Oct 11-12 Apple Scrapple Festival
Oct 14 New Castle Farm Bureau Banquet
Nov 18 NJ Farm Bureau Banquet
Dec 7 DE Farm Bureau 75th Celebration
Dec 8-10 MD Farm Bureau Convention