Crop Insurance 01/24/20 12:31:42 PM
|Katrina Schreiner |
Licensed Crop Insurance Agent
Office: (217) 323-2815
Cell: (217) 248-3378
Customer Satisfaction Survey Results: 99.6% Overall customer satisfaction with how a COUNTRY Financial Crop claim was handled.
Crop Hail Dividend:
COUNTRY Mutual Insurance Company will return nearly $850,000 in crop hail dividends to more than 9,000 Illinois crop hail policyholders. Policyholders will receive a 5.7% dividend based on premium they paid on their 2019 Crop Hail Policy.
COUNTRY Mutual Insurance Company is the largest Illinois crop hail insurer and provides crop hail protection to about 3 million acres of Illinois crops valued at about $1.8 billion.
New in 2020:
- Catastrophic (CAT) Risk Protection Endorsement – The CAT administrative fees have increased from $300 - $655 for EACH crop in the county.
- Separate Enterprise Units for Following Another Crop (FAC) and Not Following Another Crop (NFAC) practices
- Must be elected by the sales closing deadline (March 15)
- Available for Soybeans & Grain Sorghum
- Veteran Farmer or Rancher (VFR) – Any veteran who has been honorably discharged within the last five years from the United States Armed Forces can apply for VFR benefits, like administrative fee waiver and increased yield adjustment.
- The COUNTRY replant endorsement pays from the first acre damage on a covered loss.
- COUNTRY has two new replant endorsement options:
- $65 per acres for Individual Plans of Insurance
- $135 per acres for Area Plans of Insurance
COUNTRY has 20 certified drone pilots in Illinois
- An enhanced claims experience
- More accurately identify damage in your field
- Comfort and sense of security by allowing you to view the drone footage to see exactly what damage exists
- Crop Hail Insurance for Industrial Hemp helps protect against damage caused by hail.
- COUNTRY offers three crop categories for Industrial Hemp:
- Hemp Seed
- Hemp Flower
- Hemp Fiber
- Available only for hemp acreage grown outdoors in compliance with local, state and/or federal regulation.
Important Dates to Remember:
February 1-28, 2020: Base prices are being calculated using Chicago Board of Trade (CBOT) futures
February 15, 2020: Production Reporting Deadline for Area Plans of Insurance
March 15, 2020: Sales Closing Deadline
April 29, 2020: Production Reporting Deadline
July 1, 2020: Crop Hail carryover coverage ends
July 15, 2020: Acreage Reporting Deadline
August 15, 2020: Premium billing date for Federal Crop policies (COUNTRY sends premium notices on September 1, 2020)
Actuarial Information Browser: https://webapp.rma.usda.gov/apps/actuarialinformationbrowser/
The Senate Committe on Agriculture: https://www.agriculture.senate.gov/
The U.S. House Committe on Agriculture: https://agriculture.house.gov/
NASS Agriculture News & Weather: https://www.nass.usda.gov/
Risk Management Agency: https://www.rma.usda.gov/
Crop Insurance Keeps America Growing: https://cropinsuranceinamerica.org/
National Crop Insurance Services: http://www.ag-risk.org/
Crop Insurance & Reinsurance Bureau: http://cropinsurance.org/
Storm Prediction Center: https://www.spc.noaa.gov/
Things to Be Aware Of:
Crops Grown Under a Processor Contract—green peas, processing sweet corn, popcorn, processing beans, and processing pumpkins require the insured to have a valid contract with the processor purchasing the crop. Contract is required with Acreage Report.