What Do Premium and Indemnity Look Like?
The PACE premium and indemnity calculations are extremely complex and require access to the RMA actuarials. A Risk Management Advisor can provide exact quotes on a grower’s operation and area.
Loss Reporting Requirements
You must provide a notice of loss that you were prevented from applying the post-application nitrogen within 72 hours after the end of the insurance period or within 72 hours of physically being prevented from post-applying nitrogen, whichever is later.
What is Split-Applying
To “split-apply” nitrogen, growers make two or more fertilizer applications during the growing season rather than providing all the crop’s nitrogen requirements with a single treatment prior to planting. The practice saves producers money and is considered better for natural resources according to the Risk Management Agency (RMA).
Availability of PACE
PACE is available where non-irrigated corn is insurable in all counties of Iowa, Illinois, Minnesota, and Wisconsin, and in select counties of Indiana, Kansas, Michigan, Nebraska, North Dakota, Ohio, and South Dakota.