FOR IMMEDIATE RELEASE
January 12, 2010
Producers with damage urged to contact agent
OVERLAND PARK, KANSAS..Florida has just over $3 billion in liability in crop insurance on crops ranging from citrus and citrus trees to nursery and fresh market tomatoes. “All of it is protected against the record freeze that hit this past weekend, and those producers who suffered losses can rest assured that crop insurance indemnities will be paid timely,” said Bob Parkerson, President of National Crop Insurance Services.
If producers think they have a loss on an insured crop, they must:
- Notify their crop insurance agent within 72 hours of the initial discovery of damage;
- Continue to care for the crop and protect it against further damage, if possible; and,
- Obtain consent from the insurance company prior to destroying any of the insured crop.
“There are other requirements that insureds need to follow that can be found in their specific policy,” said Parkerson. “But these three are key for right now.”
The Federal Crop Insurance Program:
The crop insurance industry insures over 272 million acres and protects $90 billion in America’s food supply. Over 80 percent of the insurable acres are protected. Crop insurance is the key to financial stability for farmers, enabling farmers and ranchers to supply food and fiber to our country despite severe weather and other challenges that impact their business.
The federal crop insurance program is a public-private partnership, the industry and federal government work hand in hand. The crop insurance program is available to all producers on an equal basis and provides the financial stability for farmers and ranchers, including access to capital.
National Crop Insurance Services
National Crop Insurance Services National Crop Insurance Services (NCIS) is an international not-for-profit organization representing the interests of more than 20 crop insurance companies. NCIS member companies write Crop-Hail Insurance; Multiple Peril Crop Insurance (MPCI), the federally subsidized risk management program; and, privately developed crop insurance products totaling approximately $9 billion in premium, with liability totaling approximately $80 billion. These companies service all farmers participating in the federal program, including limited-resource and socially-disadvantaged farmers. In partnership with the government, these private companies are the safety net that equitably provides risk management to the American farmer. NCIS members range in size from one-state companies to national writers, as well as foreign company members.