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Rockford, IL | The way that I read the language is that under the Disater Aid Package that the combination of disaster payments and crop insurance benefits or Noninsured Crop Disaster Assistance Program (NAP) payments would be limited to 90 percent of a farmer’s loss. Disaster payments to farmers who didn't buy crop insurance would be capped at 70 percent of their loss.
Furthermore to me it seems like the languare says that they will use the higher of the Spring Price or Harvest Price for insurance purposes to determine what the producers expected revenue is supposed to be.
What it does not say and what I want to know is are they automatically going to pay me 90% or is there a criteria that determines how much of my expected revenue will be indemnified?
What this does do in my opinion is that it makes PP extremely attractive for a producer that is in a disaster deemed state/county.
I do not believe they are going to increase the PP payment percentage across the entire country. | |
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70-90% Prevent Plant?
