Common use of Determination of WA Experience Clause in Contracts

Determination of WA Experience. Examine the loss experience (both revenue and production losses) of the acreage insured by the WA for all years that a WA was in effect for the crop or acreage, including a review of the AIP submitted data to RMA to ensure the data was transmitted in accordance with the terms provided in the approved WA. The WA experience is unfavorable if all of the following apply: (1) an indemnity payment exceeded total premium paid on the acreage insured by the WA in the most recent crop year premium was earned; (2) an indemnity was paid and exceeded total premium earned in the crop year the indemnity was paid for the acreage for a minimum of two crop years;

Determination of WA Experience. Examine the loss experience (both revenue and production losses) of the acreage insured by the WA for all years that a WA was in effect for the crop or acreage, including a review of the AIP submitted data to RMA to ensure the data was transmitted in accordance with the terms provided in the approved WA. The WA experience is unfavorable if all of the following apply: (1) an indemnity payment exceeded total premium paid on the acreage insured by the WA in the most recent crop year premium was earned; (2) an indemnity was paid and exceeded total premium earned in the crop year the indemnity was paid for the acreage for a minimum of two crop years;