A revenue product indemnity may be earned from a yield loss, revenue price change or a combination of both. This trigger yield claculator can be used to estimate if you may have an indemnity payment due. Actual indemnity payments are subject to determination by an adjustor and the company.
Trigger Yield Calculator
The iFARM Crop Insurance Crop Insurance Evalulator is a sophisticated risk simulation engine to evaluate a range of popular insurance products for corn and soybeans farms in Illinois, Indiana, Iowa, Minnesota, Missouri and Ohio. Includes Frequency of Indemnity Payments, Average Payments from Insurance, Farmer-Paid Premium Costs, and provides revenue and risk impacts.
The current RA and Crop Revenue Coverage (CRC) Basic Provisions and procedures each require that notice of revenue loss be provided not later than 45 days after release of the fall harvest price for RA or the harvest price for CRC (hereafter final price). Further, these policies specify that a claim for indemnity must be submitted not later than 60 days after release ofthe final price unless the producer requests an extension in writing and the Approved Insurance Provider (AlP) agrees to such request. If the producer has farm-stored production they may also elect, in writing, to delay measurement of the farm-stored production.
RMA has been advised there are areas in the country where producers may still be harvesting the crop more than 45 or 60 days after release ofthe final price. In these situations, producers may not have sufficient information to timely determine whether they have a revenue loss and therefore be unable to comply with the notice ofrevenue loss and submission of claim provisions of the RA and CRC policies.