Calculation of Indemnity.
a. Stage 1 on or Before June 20 (Refer to the Benefits document)
Calculation of Indemnity.
a. Stage 1 on or Before June 20 (Refer to the Benefits document)
b. Stage 2 on or After June 21
i. If the Insured notifies AFSC of a loss from Designated Perils on or after June 21 and before November 30 in each year, an Indemnity shall be calculated as follows: {(Coverage – Adjusted Production) x Insurance Price} – Wildlife Damage Compensation Program payments.
ii. Before AFSC pays post harvest Indemnity, the Insured must file a Harvested Production Report.
iii. In no case, for an Insured Crop, shall the combined Indemnities under any Insuring Agreement (including Hail Endorsement), Wildlife Damage Compensation, and Unharvested Acreage Indemnity exceed total Dollar Coverage for that crop under this Contract.
Calculation of Indemnity.
a. If Adjusted Production is less than Coverage, Indemnities shall be calculated as follows:
Calculation of Indemnity. If an Insured Crop has been previously damaged by hail or fire or both, the percentage of yield loss or damage shall be reduced by any prior yield loss or damage in calculating the Yield Loss Indemnity that is payable.
Calculation of Indemnity.
a. Hail Endorsement Indemnity is determined by the percentage of damage to the Insured Crop multiplied by the Dollar Coverage per Acre and the number of damaged acres.
b. When the hail loss is determined to be less than ten percent on the damaged acres, no Hail Endorsement Indemnity shall be payable to the Insured.
c. Hail loss greater than 70 percent:
i. Where the actual percentage of damage from hail is determined by AFSC to be in excess of 70 percent but less than 90 percent, an additional allowance shall be made. This allowance will be equal to the difference between the actual percentage of damage and 70 percent to a maximum of ten percent.
ii. Where the actual percentage of damage from hail is determined by AFSC to be equal to or in excess of 90 percent, the damage shall be deemed and calculated by AFSC to be 100 percent.
d. In no case shall any Indemnity be paid under this Insuring Agreement in respect of any crop or part of it that has been so damaged bycauses other than hail that, in the opinion of the adjuster, the value likely to be obtained for the Harvested Production would not exceed the actual cost of cutting, threshing and marketing the Harvested Production.
Calculation of Indemnity.
a. Prior to first cut Haying Being General in the Area, as determined by AFSC, an Indemnity will be calculated as follows:
i. if selected by the Insured, a Premium refund on damaged acres; or
ii. an Indemnity not to exceed 50 percent of the Dollar Coverage; or
iii. Appraised Potential Production shall not be less than 50 percent of Coverage.
b. If only a portion of the total acreage of is released because of damage, the appraisal will be added to the Adjusted Production from the remaining acreage.
c. Once all the Harvested Production and Appraised Potential Production for the Insured is reported for the year:
i. If the Insured incurs a loss from Designated Perils on or before October 15 in each year, the Indemnity for the Xxxxxxx Xxx will be calculated as follows:
1) [(Coverage – Adjusted Production) x Insurance Price] – Wildlife Damage Compensation Program payments.
ii. AFSC, in its discretion, may apply the Appraised Potential Production, and a Grade Factor on the Appraised Potential Production if the Insured has not completed harvest on or before October 15.
Calculation of Indemnity. a. The total Indemnity and the total Dollar Coverage, including Variable Price Benefit and Quality Loss, from the associated Crop Insurance Policy are used to calculate the loss percentage for the insured dryland and insured irrigated acres separately. The Indemnities that are used for the calculation will be the gross awards from the pre-harvest Statement of Loss and post harvest Statement of Loss. The loss percentages for will be calculated as follows:
i. Loss percentage on dryland acres = (Pre-harvest gross award on dryland acres + Post harvest gross award on dryland acres) / Total Dollar Coverage on dryland acres
ii. Loss percentage on irrigated acres = (Pre-harvest gross award on irrigated acres + Post harvest gross award on irrigated acres) / Total Dollar Coverage on irrigated acres
iii. The loss percentages from the Insured’s Crop Insurance Policy will be multiplied by the total Dollar Coverage for the New Crop Insurance Initiative (NCII) Policy to calculate the Indemnity as follows:
iv. NCII Indemnity = (Loss percentage on dryland acres x NCII Dollar Coverage on dryland acres) + (Loss percentage on irrigated acres x NCII Dollar Coverage on irrigated acres)
v. The maximum Indemnity payable shall be 100% of the Dollar Coverage.
Calculation of Indemnity.
a. Prior to first-cut Haying Being General in the Area, as determined by AFSC, an Indemnity will be calculated as follows:
i. if selected by the Insured, a Premium refund on damaged acres; or
ii. an Indemnity not to exceed 50 percent of the Dollar Coverage; or
iii. Appraised Potential Production shall not be less than 50 percent of Coverage
b. If only a portion of the total acreage is released because of damage, the appraisal will be added to the Adjusted Production from the remaining acreage.
c. Once all the Harvested Production and Appraised Potential Production for the Insured is reported for the year:
i. If the Insured incurs a loss from Designated Perils on or before October 15 in each year, the Indemnity for the Hay will be calculated based on full Coverage as follows:
1) If the Adjusted Production is less than Coverage but equal to or greater than 30 percent of the Expected Normal Yield for all Insured Acres (Expected Normal Yield x Insured Acres), Indemnities will be an amount equal to: [(Coverage – Adjusted Production) x Insurance Price] – Wildlife Damage Compensation Program payments
2) If the Adjusted Production is less than 30 percent but greater than 20 percent of the Expected Normal Yield for all Insured Acres, Indemnities will be Accelerated by compensating for twice the loss between 20 and 30 percent, and shall be an amount equal to: [{Coverage – (Adjusted Production – {((Expected Normal Yield x Insured Acres x 30%) – Adjusted Production) x 2))} x Insurance Price] – Wildlife Damage Compensation Program payments
3) If the Adjusted Production is less than or equal to 20 percent of the Expected Normal Yield for all Insured Acres (Expected Normal Yield x Insured Acres), Indemnities will be an amount equal to, but not exceeding; [Coverage x Insurance Price] - Wildlife Damage Compensation Program payments
ii. AFSC, in its discretion, may apply the Appraised Potential Production if the Insured has not completed harvest on or before October 15.
Calculation of Indemnity.
a. For the purpose of this Insuring Agreement, an Indemnity shall be calculated as follows:
i. [(Insurable Hives x Individual Survival Rate x Coverage Level) – (Surviving Hives) – (Hives lost due to Uninsured Causes of Loss)] x Dollar Coverage per Hive.
1) If negative, no Indemnity is paid.
Calculation of Indemnity.
a. Stage 1 on or Before June 20 (Refer to the Benefits document)
b. Stage 2 on or After June 21
i. An Indemnity shall be calculated as follows: [Dollar Coverage x Payment Rate] The maximum Indemnity payable shall be 100% of the Dollar Coverage.
ii. The Payment Rate is based on the average of the Payment Rate(s) for the Insured’s Selected Weather Station(s).
1) The Payment Rate for the Selected Weather Station(s) will be zero when the Percent of Normal Moisture is greater than or equal to 80 percent.
2) Where the Percent of Normal Moisture is below 80 percent, the Payment Rate will be based on the Payment Rate Schedule below.
iii. Except at the discretion of AFSC, no changes will be made to the May Moisture, June Moisture, July Moisture or August Moisture values after an Indemnity has been paid.
c. In no case shall the combined Indemnities under any Insuring Agreement (including Hail Endorsement) exceed total Dollar Coverage under this Contract. >= 80 0 >= 54 & < 56 47.0 >= 78 & < 80 3.5 >= 52 & < 54 51.0 >= 76 & < 78 7.0 >= 50 & < 52 55.0 >= 74 & < 76 10.5 >= 48 & < 50 59.0 >= 72 & < 74 14 >= 46 & < 48 63.0 >= 70 & < 72 17.5 >= 44 & < 46 67.0 >= 68 & < 70 21.0 >= 42 & < 44 71.0 >= 66 & < 68 24.5 >= 40 & < 42 75.0 >= 64 & < 66 28 >= 38 & < 40 80.0 >= 62 & < 64 31.5 >= 36 & < 38 85.0 >= 60 & < 62 35 >= 34 & < 36 90.0 >= 58 & < 60 39.0 >= 32 & < 34 95.0 >= 56 & < 58 43.0 < 32 100.0 Indemnity: Calculation Example for Lack of Moisture Assumption: elected Weighting Option A, coverage is $150 per acre on 200 acres of silage for $30,000 total coverage. Coverage is weighted across the months of May to July: 20% May; 40% June; 40% July. May June July August Total Weighted % of Normal Measured Moisture (mm)* 32.8 51.3 32.5 45.9 Days 30C or higher 0 days 0 days 4 days = 4 mm 4 days= 4 mm Days 35C or higher 0 days 0 days 1 day = 2 mm 4 days = 8 mm Measured moisture (mm) less extreme temperature adjustment ** 32.8 51.3 26.5 33.9 Normal Moisture (mm) 44.6 85.9 85 57.8 Monthly Weighting 20% 40% 40% 0% 100% Weighted % of Normal 14.71% 23.89% 12.47% 0.0% 51.07%
a. Calculate the monthly weighted percent of normal using the information in the table above. Weighted percent of normal = (measured moisture less extreme temperature adjustment / normal moisture) x monthly weighting:
1) Weighted percent of normal for May = 14.71%
2) Weighted percent of normal for June = 23.89%
3) Weighted percent of normal for July = 12.47%
b. Calculate the total weighted percent of normal Total...
