Terms in this set (69)
1. Crop Hail Coverage
2 types of crop insurance coverage 2. Multi-Peral Crop Insurance (MPCI)
1. FCIC - Federal Crop Insurance Corporation
2. NCIS - National Crop Insurance Services
4 Crop Hail Organizations 3. AACI - American Association of Crop Insurers
4. CRIB - Crop Insurance Research Bureau
1. Adverse weather
2. Insects, disregarding damage due to pest control negligence
3. Wildlife
4. Earthquake
5. Volcanic Eruption
7 types of perils
6. Plant Disease, disregarding damage due to negligence
7. Failure to irrigation / water supply
- Expanded the crop insurance program to more crops and regions
- Authorized a subsidy equal to 30% of the crop insurance premium limited
1980 Federal Crop Insurance Act to the dollar amount at 65% coverage
Adjusting evaluation of a loss
, Defamation
Any written or oral communication
about a person or thing that is both
untrue and unfavorable
Yes
Are the representatives and provisions
of the application part of the policy?
Assignment assign right of indemnity, for the crop year only, to a third party
Coverage cannot be taken in: tons
No
Does Multi Peril Crop Insurance
cover fire and hail?
Yes - gives insured 10-day notice
Does the company have the right to
cancel the policy after the rejection
time stated in the policy?
Waiver
A form that releases someone or some
organization from liability
By share percentage of acres reported
How do you calculate covered acres?
12 months
How long are crop hail policies
written?
Until after the crop is harvested
How long does a crop hail policy last?
1. Crop Hail Coverage
2 types of crop insurance coverage 2. Multi-Peral Crop Insurance (MPCI)
1. FCIC - Federal Crop Insurance Corporation
2. NCIS - National Crop Insurance Services
4 Crop Hail Organizations 3. AACI - American Association of Crop Insurers
4. CRIB - Crop Insurance Research Bureau
1. Adverse weather
2. Insects, disregarding damage due to pest control negligence
3. Wildlife
4. Earthquake
5. Volcanic Eruption
7 types of perils
6. Plant Disease, disregarding damage due to negligence
7. Failure to irrigation / water supply
- Expanded the crop insurance program to more crops and regions
- Authorized a subsidy equal to 30% of the crop insurance premium limited
1980 Federal Crop Insurance Act to the dollar amount at 65% coverage
Adjusting evaluation of a loss
, Defamation
Any written or oral communication
about a person or thing that is both
untrue and unfavorable
Yes
Are the representatives and provisions
of the application part of the policy?
Assignment assign right of indemnity, for the crop year only, to a third party
Coverage cannot be taken in: tons
No
Does Multi Peril Crop Insurance
cover fire and hail?
Yes - gives insured 10-day notice
Does the company have the right to
cancel the policy after the rejection
time stated in the policy?
Waiver
A form that releases someone or some
organization from liability
By share percentage of acres reported
How do you calculate covered acres?
12 months
How long are crop hail policies
written?
Until after the crop is harvested
How long does a crop hail policy last?
