By Chris Bruynis, Assistant Professor/Extension Educator, OSU Extension
Producers that carry multi-peril crop insurance policies subsidized and reinsured by the Federal Crop Insurance Corporation (as overseen by the Risk Management Agency (RMA)) may be eligible for quality loss adjustments if the reason for the loss in value is due to a covered event such as the excessive precipitation received this spring. Reports coming from the elevators on harvested wheat indicate that not only are wheat yields lower than expected, but vomitoxin levels are high, ranging from 5 to 10 parts per million (ppm) in Northwest Ohio.
In order for producers to protect their rights, it is imperative to report any damage in the required time frame and seek advice from the insurance company before proceeding with harvest or destruction of the damaged crop. Failure to do so may jeopardize the claim. Crop insurance policies require that farmers notify their company within 72 hours of noticing a loss.… Continue readingRead More »