Winter 2013 News, know-how and risk management updates...
Crop insurance welcome
to the Winter 2013 issue of the GreenStone Crop Insurance newsletter. With the planting season right around the corner, here are some key points to remember as we begin another crop insurance year.
Important Dates:* Jan. 15
Fruit Acreage Reports / Yield Reports & Pre-Acceptance Worksheets Due
Jan. 25
Deadline for January Livestock Gross Margin (LGM) sign up
Feb. 1
Sales Close Date for Onions
Feb. 22
Deadline for February LGM sign up
Mar. 15
Final date to sign up or make changes for a Spring 2013 Crop Insurance policy. If you are interested in changing the coverage level, type or need to add a crop, please call your specialist to review your options. Any and all changes need to be completed by the March 15th deadline! [Note: Even if you are not making any changes, you still need to return your signed application. Your policy will automatically renew at the same level you insured in 2012.]
Mar. 29
Deadline for March LGM sign up
Apr. 29
Production reporting deadline for Fall 2012 harvested crops. Before you get busy in the field this spring, be sure to have your production reports completed, signed and submitted before April 29.
*Please note that some dates can vary by county, especially in Wisconsin. Check with your crop insurance specialist for specific dates if you are unsure.
Trend Adjusted APH— The Trend Adjusted (TA) option that was new last spring is an option that you may want to consider this year if you did not take advantage of it in 2012. Trend Adjusted Actual Production History (APH) adjusts the yield in the APH database to better reflect the long term increases in a county’s historical yield. It allows a producer to add bushels to older yields in their APH database to help better translate to current farming practices. If you have been looking for a way to increase your APH but you have some older yields holding you back, ask your agent about the trend adjustment options in your county. Many producers may be able to increase their level of coverage at a cost similar to what they paid in 2012.
GreenStone FCS is an equal opportunity provider and employer.
Specialty Corn and Soybeans– New for 2013, insurance coverage is available on specialty blue corn for select counties in Michigan and Wisconsin. Coverage is also available on high amylase corn for select counties in Wisconsin. Both yield protection and revenue protection policies are available; contact your local specialist for more information. Also, revenue coverage is now available on specialty soybeans. Insurable types include: large seeded food grade, small seeded food grade, low linolenic acid, low saturated fat, high protein and all other varieties not identified above.
Crop Insurance News is brought to you by your local GreenStone Crop Insurance team: Specialist Name: Phone Number Specialist Name: Phone Number Specialist Name: Phone Number Specialist Name: Phone Number Specialist Name: Phone Number
Branch Phone Number Branch Fax Number Street Address, City, State Zip Code
www.greenstonefcs.com
NEW FOR 2013!
+
How often do farmers question their Multiple Peril Crop Insurance (MPCI) Enterprise Unit (EU) coverage when there was one or two of their fields that suffered a loss, but was not enough to trigger an EU claim? How many times is Optional Unit (OU) coverage the best risk management tool for a producer, but the cost of OU compared to EU provides sticker shock? EP+ is an add-on product for a producer who carries EU on their federal crop insurance
policy. With EP+, they can add Basic or Optional Unit protection. EP+ producers the best of both EU and OU coverage, by maximizing the cost benefits of EU coverage, allowing two to 10 groupings of OU coverage and addresses shallow losses and individual units which may often produce lower than the operation’s average. EP+ is available for both corn and soybeans. Eligibility is based on state/county/crop elections with some exclusions that may apply.
TOTAL WEATHER COVERAGE— It is no secret that adverse weather is the number one cause of loss for producers with crop insurance policies. Whether it is too much or too little, year after year we are at the mercy of precipitation and temperature. While federal crop insurance can offer substantial protection, producers may be looking for that extra layer of comfort to ease the mind over the growing season. Total Weather Insurance (TWI) is a product offered by The Climate Corporation that focuses on cropspecific weather perils such as drought, excess moisture, day/night heat stress and early freeze. It can
2013 News New Early Plant Dates Early plant dates changed this year and vary by location within the state. Please contact your agent to get the specific date for your area. It is important to note that crop acreage planted before the early plant date is not eligible
be used on its own or side by side with your current crop insurance policy. There are a few advantages to TWI over federal crop insurance that can make it more attractive to producers. To name a few, there is no acreage or production paperwork, no adjusters or claims process, TWI is not limited to APH history, premium is due at the end of the coverage period, and coverage is tuned to specific crop, location and soil type.
for replant payments but, will still be eligible for insurance coverage. The insurance guarantee is not impacted as long as producers follow good farming practices.
Organic Crops As a reminder, RMA now requires all insured organic certified producers to provide a copy of their organic crop
LIVESTOCK GROSS MARGINDAIRY
Livestock Gross Margin (LGM)-Dairy is a pilot program administered by the Risk Management Agency (RMA) to help dairy producers protect against the combination of lower milk prices and higher feed prices. Basically, it allows you to set a floor on the Class III milk price and a ceiling on your feed costs, protecting the gap (margin) in between. Because it is a pilot program, the RMA limits the amount of premium dollars that can be written by crop year, so availability will be handled on a first-come-first-served basis. With the start of a new year, funding is now available; the sign up period is the last Friday of the month. If you are interested in looking into a LGM-Dairy policy, do not hesitate to contact your crop insurance specialist today!
plan and organic certificate to their agent before the acreage reporting date.
Person Types and Identification Numbers To better accommodate data reconciliation between Farm Service Agency and RMA, there have been some changes made to the social security number and employer
identification number reporting requirements for individuals, estates, and trusts. If you have recently made a change in how an entity has been set up, let your specialist know and they will make sure your policy is renewed using the correct identifying numbers. These records need to be updated before the March 15 deadline.