For 2012 Crop Year:
1) Assignments of Indemnity (AOI) from your lendors must be re-filed each crop year. If your banker requires to be a loss payee on your crop insurance loss checks, they need to be contacting our office to get the form for processing these timely for 2012 Wheat policies, or you may request a form from our office to provide to your lender. It is the responsibility of the farmer and lender to complete this form and return it to our office for processing for each new crop year.
2) Changes in 2012 policy: CRP land broken out NEW in 2012 must be reported to our office by SALES CLOSING DATE this year, which is September 30th for Fall policies. This is a change from last year when you had until Acreage Reporting Date to notify us. If you are considering breaking out new land, please contact our office for the requirements to process this change in your operation, as it will require a Written Agreement on the acreage and supporting documentation submitted to RMA for approval.
3) Changes in Entity status: If you have had a change in your operation name, formed a new entity, have assets in an estate or trust holding, newly married, divorced or widowed please contact our office as soon as possible and verify that we have you correctly insured by your entity type/change. If you are in the process of forming a new entity, etc. as indicated above that will NOT be finalized BEFORE September 30, please also contact us so we can navigate you through the paper process that will follow for making policy changes AFTER sales closing date.
4) Added Land: If you are picking up a new farm either buying, renting, partnering, etc. Please let us know so that we can verify the acreage will not exceed the limits allowed within the policy without a written agreement.
5) With the Wheat price and volatilty factor changing daily on the daily tracking, we have decided that we will not send out Wheat quotes until closer to the end of the trading which is September 14th, so that the price estimate is closer to the actual price that will be set for your coverage planning.
We continue to track loss checks and we assure you that we are doing all that we can to expedite these claims and get you paid as quickly as possible. We appreciate your business and your patience as we move forward in this difficult crop year.
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Ag News: 08.25.11
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- Texas: Drought Concerns Extending to Winter Wheat Planting
- Japan to Boost Imported Wheat Prices by of Average 2 Percent
- Cotton Markets, Texas Drought and Overseas Production Questions