Crop Insurance Today Fourth Quarter 2020 - 14

sales of this product, it was corn, cotton, and soybeans that carry the most liability, roughly $386.7
million out of total liability of more than $716
million. RMA indicated that participation numbers were larger than expected and credited the
industry for their input and quick roll out.
Another panel topic was the marketing and
selling of the HIP-WI endorsement and key
points to focus on in understanding the coverage.
Dr. Worth outlined why it is important to explain
what the coverage is and what it is not. Foremost, it is additional catastrophic coverage to
the MPCI policy where a crop is within the wind
field of a named hurricane, i.e., the area of true
devastation. The trigger mechanism is designed
to maximize the chances that the entire hurricane wind field is covered using maximum wind
extent and the inclusion of adjacent counties to
any triggered county. The product is designed to
maximize the chances that it will pay when it is
truly needed while keeping premium rates reasonable and allowing for a quick payment using
the NHC wind field data usually published within just a few weeks after a triggering event. Additional selling points are the premium costs reflect
the risk, meaning the premium rates are based
on how often hurricanes have come through the

14

FOURTHQUARTER2020

county in the past, plus the government defrays
65 percent of the cost. Coverage may be scaled
down for affordability but scaling down does not
affect the likelihood of a payment, just how much
it pays if a hurricane occurs.
Later in the webinar, Mandy Welton clarified
2020 provisions and discussed new and revised
changes to the 2021 endorsement. Jessica Trites
Rolle, NCIS, presented four timeline recordings
with emphasis on first and second crop, SCO and
STAX interaction, an early trigger event, and a
county with more than one trigger event. Each
timeline featured a crop scenario and how the
HIP-WI endorsement interacted with the underlying policy and, in some cases, interactions with
other endorsements such as SCO, STAX, or the
Cottonseed endorsement. The slide deck offered
a unique perspective highlighting key dates and
data transmittal information. After each presentation, attendees were given a chance to ask questions, which provided opportunities for clarification for all who participated. The webinar was
very successful as an email from one participant
summed up the event by writing, " ...the class was
well organized, informative, and the format of
the scenarios from Jessica were very engaging! "
Virtual training allows NCIS to address questions and issues on a singular topic and, as a bonus, provides training PowerPoints along with
webinar recordings to train agents and company employees. The Hurricane Webinar allowed
NCIS to address first year challenges and issues
on a new product quickly and economically,
eliminating the need for NCIS members to travel.

PRH Strawberry Webinar

Over the summer, NCIS offered additional virtual training programs to our members
for new product offerings. At the request of the
NCIS Southeast Regional/State committee, NCIS

again partnered with RMA to train on the new
Production and Revenue History (PRH) strawberry product. With the focus on loss adjustment, Anna Parker, RMA, addressed procedures
from the loss handbook followed by Galen Tuley,
RMA, who took the class through step-by-step
loss adjustment examples. Claire White and Angela Conchola, RMA, highlighted information
from the strawberry provisions and provided
an overview of the product. Under this plan, a
farmer may choose a yield option or one of two
revenue plans. Currently, the pilot is offered in
Florida for the 2021 crop year and California for
the 2022 crop year with plans for expansion into
more specialty crops.

Florida Citrus and Apple
Tree Webinars

Other webinars conducted this summer with
regional/state committees included Florida Citrus
APH and Apple Tree Policy webinars. NCIS partnered with AgriLogic Consulting LLC on both occasions and guest speakers, Nicole Gueck and Kim
Harris, provided an underwriting overview followed by a more in-depth training on loss adjustment. Apple tree coverage offers optional coverages
such as the Occurrence Loss Option, Comprehensive Tree Value Endorsement and the Fire Blight
Endorsement. Farmers will find this plan available
in Idaho, Michigan, New York, Oregon, Pennsylvania, and Washington. Florida Citrus APH is
a 508(h) product and will be offered in the same
counties that the current Dollar Plan of Insurance
program is offered. Grapefruit, lemons, mandarins/tangerines, oranges, tangelos, and tangors may
have separate coverage levels by type within each
citrus fruit group and will range from Catastrophic
(CAT) to the 85 percent coverage level.
As new products become available, the NCIS
Training Team plans to develop webinars that
are responsive to member needs. It is important
to offer uniform training that benefits the entire
industry. Through our partnership with RMA
and other entities who offer new plans or 508(h)
products, we can offer timely training solutions
and provide clarity to crop insurance issues as
they arise. We would like to thank guest speakers, as well as NCIS employees, who have participated in our training webinars. Your willingness
to educate and provide answers to the industry
allows NCIS to facilitate learning that not only
benefits our members, but crop insurance agents
as well. Thank you for your hard work in creating
and presenting the material.



Crop Insurance Today Fourth Quarter 2020

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