Follow us on Twitter @FBSellsCropIns Follow us on YouTube: Farm Bureau Sells Crop Insurance CROP WATCH American Farm Bureau® Insurance Services, Inc. Newsletter Spring Agent Training Sessions The schedule for 2015 Spring Agent Training is listed below. To sign up for a basic or update session, go to: www.FarmBureauSellsCropInsurance.com/registration and select a training session in your state. North Carolina - January 6 - Basic - Raleigh, NC North Carolina - January 7 - Update - Raleigh, NC North Carolina - January 8 - Update - Greenville, NC North Carolina - January 8 - Update - Hickory, NC Virginia - January 6 - Basic - Richmond, VA Virginia - January 7 - Update - Richmond, VA We look forward to seeing you there! Coverage Level by Practice As part of the recent 2014 Farm Bill, provisions have been included to allow a producer to elect separate coverage levels for Irrigated and Non Irrigated practices. Election for separate levels must be determined on or before the applicable Sales Closing Date for the crop. Enterprise Units by Practice JANUARY 2015 Supplemental Coverage Option (SCO) and FSA’s Agricultural Risk Coverage (ARC) The date to report Agricultural Risk Coverage (ARC) and/or cancel Supplemental Coverage Option (SCO) on winter wheat is 12/15/14. If your insured elected SCO at Sales Closing, they must now indicate on which farms they have elected ARC (if any). The indication is to be done on a copy of the Acreage Report which you will find in the Archived Documents section of the website. Items to note: • ARC is elected by FSN, not CLU. All acres still must be reported by CLU. • ARC may be indicated on the Acreage Report by writing a “J” under acreage type or “ARC” under options, elections, and endorsements. • If the farm is left blank, SCO remains unless otherwise indicated. • The forms must be signed by 12/15/14. The insured may elect, as a one time consideration for winter wheat only, to remove SCO from the policy without electing ARC by 12/15 by stating “Remove SCO Endorsement from the policy” on the Acreage Report. Remember, if the insured elects ARC on a farm and has SCO on the same farm and does not indicate ARC to us by 12/15/14, such acres will not be covered under the SCO Endorsement and the insured will be required to pay 20% of the SCO premium to cover administrative expenses. Producers are now also able to elect separate enterprise units for Irrigated and Non Irrigated crops, provided qualifications are met, and the policy provisions allow for the option. To qualify for separate Enterprise Units: 1. The option must be elected by Sales Closing Date 2. The option is continuous until cancelled in writing 3. Irrigated and Non Irrigated acreage must each qualify on their own as an enterprise unit a. Two or more sections, section equivalents, or Farm Serial Numbers b. Planted acreage must be at least the lesser of 20 acres or 20 percent of the insured crop acreage within the unit (20/20 rule) c. Planted acreage may be aggregated to meet the 20/20 requirement www.FarmBureauSellsCropInsurance.com AFBIS Inc. is an equal opportunity provider and employer. Important Dates Coming Up: Feb g Sales Closin Date 28 Jan 1 Rice TN Premium Billing Date Tobacco ops Spring Cr y Tobacco) urle (except B 15 Jan 31 Sales Closing Date Potatoes A , OK, TN, V AR, KY, NC r a e yholders lic o p it u r the All f complete o t d e ir u ptance req re-Acce P ’s r e c u Prod et! Workshe Pecans OK Jan Acreage Reporting Date 15 Wheat NC, OK, VA Oats NC & VA Rye Oklahoma Barley NC, OK, VA Canola KY, OK, TN FRUIT* apes, ches, Gr a e P , s le App ries ies, Cher Blueberr NC, OK, VA KY, NC, TN, VA NC, AR n& Productio Acreage Date Reporting Jan MPCI Notic e of Claim Requireme Notice of C laim is requ ired to be su discovery of bm d insurance per amage, but not later than itted within 72 hours aft iod. The cale below : ndar date fo 15 days after the end o er r the end of f insurance per the iod is nts DATE 01/31/15 01/31/15 CROP Cotton Pecans STATE OK OK On the Noti ce of Claim , please ente contact nam r the cell p e of the insu hone numb re d or any oth may assist ou er and er r adjusters w hen contactin pertinent information th at g the insured . *Please check your county actuarial to see if these crops are available in your county Whole-Farm Revenue Protection (WFRP) The Whole-Farm Revenue Protection (WFRP) policy is available for the 2015 Crop Year. This replaces the Adjusted Gross Revenue (AGR) and Adjusted Gross Revenue Lite (AGR-Lite) program. WFRP is designed to meet the needs of highly diverse farms growing a wide range of commodities. It is intended to protect producers against loss of revenue a producer expects to earn or will obtain from commodities produced or purchased for resale, including animals and animal products, during the insurance period. WFRP allows a producer to cover between 50% – 85% of their whole farm revenue. Coverage is based on the five most recent tax years (2009 – 2013) excluding the most recent year. Two significant changes to this program are the new limitation cap of $8.5 million in liability and the Expanding Operation Factor, which allows a producer to increase their Allowable Revenue by 10 percent when qualifications are met. A loss occurs when the Allowable Revenue (farm revenue the IRS requires to be reported on farm tax records) from commodities produced during the insurance year falls below the Insured Revenue. The default Crop Year on the Web is now 2015 Please select the correct crop year before proceeding. SSN/EIN Reporting Please review with your insured whether the Named Insured and/or SSN/EIN changed for the new crop year. This should be done every reinsurance year, for every policy (fall crop/spring crop/crop hail). WHISTLEBLOWER PHONE NUMBER The toll-free number for the Inspector General’s Hotline is 800-424-9121. www.FarmBureauSellsCropInsurance.com New Acreage Reporting Tips Please review your Acreage Reports for accuracy before submitting. Below are some tips and reminders for completion. • The acreage report looks similar to the FSA 578. If provided, it will print county and share information. Crop will not print and must be listed completely. • The report will list the Common Land Unit (CLU) information including the Farm Serial Number (FSN) and the tract and field number. It will also print the section, township, and range if applicable. • Put new land on a new line. Do not cross through existing lines. • Do not cross through FSNs, unless the new FSN is replacing an old FSN. Put a notation as to the date of the reconstitution for the FSN. • Report all Prevented Planted (PP) acres on the Acreage Report and file a PP claim. • The total acres reported for insured, uninsured and Prevented Planted acres must be listed on the Coverage Summary. • All Acreage Reports must be signed and dated by the agent and insured by the Acreage Reporting Date. • All Acreage Reports must be in the Raleigh Regional Office of AFBIS, Inc. no later than 10 calendar days after the Acreage Reporting Date. APH Yield Exclusion (YE) For the 2015 crop year, eligible crops include corn, soybeans, wheat, cotton, grain sorghum, rice, barley, canola, sunflowers, peanuts, and popcorn. These are spring crops with Yield Protection, Revenue Protection, and Revenue Protection with Harvest Price Exclusion policies. APH Yield Exclusion is not available for a crop offering both fall planted and spring planted coverage. Some important points regarding the APH Yield Exclusion (YE) which is referred to in the Actuarial Special Provisions as the YE option: The YE option and eligible crop years for exclusion are identified in the actuarial documents under the Yield Exclusion tab. The YE must be elected on a crop/county basis by the applicable Sales Closing Date and is a continuous option. All actual yields in an eligible crop year are automatically excluded unless the insured opts out of excluding an actual yield. The insured may indicate by APH database whether or not to exclude an actual yield for that specific crop year by the Production Reporting Date. When an insured has chosen to opt out of the YE for an actual yield(s) in an eligible crop year in an APH database, the yield must be identified on the APH database and the insured must sign the Actual Production History Report form. A producer may elect and apply both YA and YE options on a policy and within an APH database. However, only one option, either YE or YA, can be applied to an actual yield for an eligible crop year with an APH database. When both options are elected and both elections apply to an eligible crop year, the YE will apply first. A producer may elect both the TA and YE options. However, when an eligible actual yield is excluded, the excluded yield is not considered for TA purposes. “CROP WATCH is published by AFBIS, Inc. and is intended for informational purposes only. Nothing contained herein can or should be interpreted to take precedence over policy language, Federal Crop Insurance Corporation/Risk Management Agency regulation, and Underwriting or Loss Adjustment rules.”
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