Crop Insurance Today First Quarter 2020 - 18

growers flexibility to choose the most appropriate
irrigation method for their farming operation.
Intermittent Flood Irrigation (also known as
alternate wetting and drying) allows flood irrigation water within a rice field to subside naturally
to a limited extent, during growth and development before the field is reflooded.
The other new practice, Furrow Irrigation,
(also known as row rice) is where furrows are
created to convey water to all rice plants in
the field.
RMA worked with various university rice
experts on requirements for both new irrigated practices. Farmers must meet all of the conditions found in the 2020 Special Provisions to
maintain crop insurance eligibility.
Another change for the rice program is that
March 15 is the new cancellation and termination date in Missouri and Illinois counties that
insure rice. RMA made this update to be consistent with other row crops in these states. Previously, the date to make policy changes or cancel
the rice crop was February 28.

Hurricane Insurance
Protection-Wind Index
Endorsement

In response to the 2018 Farm Bill's mandate
to explore new types of insurance coverage for
hurricane and tropical storm, the FCIC Board of
Directors approved a new Hurricane Insurance
Protection-Wind Index (HIP-WI) Endorsement. The endorsement provides protection
against widespread loss in a county due to sustained hurricane force winds. Individual farm
yields and revenues are not considered in determining an indemnity payment when the county
sustains hurricane force winds.
HIP-WI was developed by RMA and is a new
crop insurance plan that will be offered as an endorsement to an underlying policy, defined as a
policy covered by the Common Crop Insurance
Policy Basic Provisions (BP) and applicable Crop
Provisions. The HIP-WI endorsement can be
added to BP policies with the Supplemental Coverage Option (SCO) endorsement and Stacked
Income Protection Plan (STAX), provided the
acreage covered by STAX is also insured under
a companion BP policy. In addition, HIP-WI can
be added to a policy with the Catastrophic Risk
Protection Endorsement, but the insured must
pay the actuarially fair premium for the HIP-WI
coverage. HIP-WI is not available with a Whole
Farm Revenue Protection policy (WFRP), Area
18

FIRSTQUARTER2020

Risk Protection policy, or any other insurance
plan not included under the BP.
HIP-WI will first be offered for sale for the
2020 Crop Year (CY) in certain counties that
have a risk of hurricane occurrence. Most HIPWI counties are in eastern coastal and Gulf of
Mexico states, including all counties in Florida.
For the 2020 CY, all counties will have an April
30, 2020 Sales Closing Date (SCD). For the 2021
CY, the endorsement must be elected by the SCD
of the underlying crop policy. There is a 14-day
waiting period after the initial SCD or any subsequent SCD where the underlying policy coverage
changes, before HIP-WI coverage attaches.
HIP-WI establishes coverage using the acreage reported on the underlying policy. The HIPWI endorsement covers the difference between
95 percent and the Coverage Level of the underlying policy or the SCO or STAX upper Coverage
Range; this is the Hurricane Coverage Range. The
insured may elect a Coverage Percentage between
one and 100 percent of the Hurricane Coverage
Range. The Expected Crop Value is determined
by dividing the liability of the underlying policy
by the coverage level of the underlying policy and
the Price Election Percent of the underlying policy. The Hurricane Protection Amount is determined by multiplying the Expected Crop Value
by the HIP-WI Hurricane Coverage Range and
the elected HIP-WI Coverage Percentage.
As an example, for an underlying policy with
a 65 percent coverage level, the HIP-WI Hurricane Coverage Range would be 30 percent (95%
- 65%). The insured elects a HIP-WI Coverage
Percentage of 75 percent and the underlying policy has a Liability of $65 with a Price Election
Percent of 100 percent. The Expected Crop Value
would then be $100 ($65 ÷ .65 ÷ 1.00), and the
Hurricane Protection Amount would be $22.50
($100 * .30 * .75). This provides overall protection
of $87.50 for the $100 Expected Crop Value ($65
liability of the underlying policy + $22.50 Hurricane Protection Amount).
The HIP-WI endorsement pays 100 percent
of the Hurricane Protection Amount when the
county, or an adjacent county, experiences hurricane force winds, as determined using National Oceanic and Atmospheric Administration
(NOAA) data. RMA will determine and publish
a list of counties meeting this county loss trigger
in the Actuarial Documents shortly after a hurricane event, and insureds will receive an indemnity payment under the HIP-WI endorsement
within 30 days of that publication.

If multiple hurricane force wind events occur
in a county, or adjacent county, during a single
crop year, HIP-WI will only pay for the first hurricane event. HIP-WI does not pay for any loss
occurring from hurricane related damage, including damage from storm surge, excess moisture, flooding, or generally high winds when that
county, or any adjacent county, does not experience sustained hurricane force winds.
HIP-WI is an innovative new coverage for
counties that have a higher risk of hurricane
and can provide producers with more certain
protection and timely indemnity payments after
a hurricane.

Sugar Beets

In 2019, the Sugar Beet policy underwent
a lengthy process of review to make improvements. On the claims side, language was implemented to address adjustments when early harvest of sugar beets, in advance of full maturity,
has been requested by the processor or required
in the production agreement (previously known
as processor contract).  Language was also added to address circumstances where sugar beets
were harvested early without being authorized or
mandated in the production agreement and either accepted or rejected by the processor.  Three
new definitions were added to the sugar beet crop
provisions which include: percentage of raw sugar, pound and ton with other definitions being
updated, replaced, or deleted. Other new topics
include bypassed acreage procedures, early harvest adjustments (Cap), and updates to the production agreement.
The four products mentioned above are far
from an all-inclusive list of improvements and
changes that will be implemented in the crop insurance program for Crop Year 2020. Products
and policies such as Livestock Revenue Protection, Sweet Cherry, Hybrid Sweet Corn Seed, Annual Forage, and many others have new features
that farmers may be interested in learning about.
As Federal crop insurance and the state-regulated Crop-Hail program continue to grow and
introduce new options for farmers of all sizes and
all types of commodities, it is imperative that
farmers meet with their agents early and as often as necessary to understand the changes and
how they may affect their policies. Sales closing
deadlines for spring-planted crops are fast approaching for all areas of the country, so be sure
to contact your crop insurance agent and set up
an appointment now!



Crop Insurance Today First Quarter 2020

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https://www.nxtbook.com/allen/cint/54-1
https://www.nxtbook.com/allen/cint/53-4
https://www.nxtbook.com/allen/cint/53-03
https://www.nxtbook.com/allen/cint/53-02
https://www.nxtbook.com/allen/cint/53-01
https://www.nxtbook.com/allen/cint/52-04
https://www.nxtbook.com/allen/cint/52-03
https://www.nxtbook.com/allen/cint/52-02
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http://www.brightcopy.net/allen/cint/51-04
http://www.brightcopy.net/allen/cint/51-03
http://www.brightcopy.net/allen/cint/51-02
http://www.brightcopy.net/allen/cint/51-01
http://www.brightcopy.net/allen/cint/50-04
http://www.brightcopy.net/allen/cint/50-3
http://www.brightcopy.net/allen/cint/50-2
http://www.brightcopy.net/allen/cint/50-1
http://www.brightcopy.net/allen/cint/49-4
http://www.brightcopy.net/allen/cint/49-3
http://www.brightcopy.net/allen/cint/may2016
http://www.brightcopy.net/allen/cint/february2016
http://www.brightcopy.net/allen/cint/november2015
http://www.brightcopy.net/allen/cint/september2015
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https://www.nxtbook.com/allen/cint/november2013
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https://www.nxtbook.com/allen/cint/november2012
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https://www.nxtbook.com/allen/cint/44-4
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