A new insurance option for post-application – AgriNews

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GIFFORD, Illinois – Details of a new federal crop insurance program for nitrogen after-use have recently been released.

The post-application coverage support program provides additional coverage if a producer cannot post-split nitrogen application in two- to three-week stages of corn growth from V3 to V10 due to wet weather and field conditions, leading to crop loss.

PACE is available for uncultivated corn in selected counties of Illinois, Indiana, Iowa, Kansas, Minnesota, Michigan, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.

Forty counties from west-central to east-central Illinois and up to northwestern state are eligible to participate in PACE. Nine counties in northeastern Indiana are also eligible.

The manufacturer must decide to add approval to the closing date of sales on March 15, within the same timeframe applicable to major insurance plans.

Suitability

To be eligible, farmers must:

• Have a basic crop protection, income protection or income protection insurance policy excluding the cost of the crop with coverage at the level of additional coverage.

• Use a separate application of nitrogen practice.

• Have documentation supporting the purchase of nitrogen for the separate use of nitrogen.

• Entry in the PACE sown area report: the area on which the split nitrogen application was planned and the area where the previous nitrogen application was actually applied.

• Due to weather and field conditions during the insurance period due to weather and field conditions it was not physically possible to apply nitrogen after nitrogen application.

Proposed PACE coverage levels range from 75% to 90% in 5% increments.

Additional entries

The program requires a report from the nitrogen manufacturer in the event of a possible loss regarding the practice and application of nitrogen. Acceptable records supporting information from the nitrogen manufacturer’s report should be maintained.

Acceptable entries include commodity receipts showing the name of the insured; purchased date fertilizers; type of fertilizer purchased; trademark fertilizer, if any; percentage of nitrogen, phosphorus and potassium; and the total amount of fertilizers purchased.

Records should record the dates of fertilizer application, the amount of fertilizer applied per date, and the area of ​​fertilizer in the field on which the fertilizer was applied.

PACE was developed by the Illinois Corn Growers Association, the National Corn Growers Association, Ag-Analytics Technology LLC, Meridian Institute and others provided by the Federal Crop Insurance Corporation in accordance with legal provisions that allow privately developing new crop products.

Continuing programs

Blake Howell, head of Loman-Ray Insurance Group, based in Broadlands, and Charlotte Smith, representative of Loman-Ray Insurance Group’s customer service for crop insurance based in Hupston, said other programs, such as federal crop insurance and hail insurance, virtually unchanged until 2022.

“There are typical products such as crop protection products, county products. There is an additional coverage option that is based on the county’s yield, and there is an extended coverage option that is disconnected from that, ”Howell said at Midwest Ag Expo.

Smith noted the recent increase in the number of farmers involved in crop insurance.

“It looks like we’ve seen some farmers who haven’t been involved before, and now with higher resource costs they’re looking for new ways to spread the risk. Harvest insurance is one of the tools in their toolkit that they can use to offset some of that risk, ”she said.

“So they can at least cover the cost of their contributions,” Hoveln added.

“We do a lot of hail insurance products. There are many different options for hail, such as the extra transplant you can get where you pick up acres for transplanting from the first acre, instead of waiting for those 20% to begin. There are a lot of new little details about the hail this year, ”Smith said.

A new insurance option for post-application – AgriNews

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