Climate summit.....

[the big wheel]

In Alberta, the 'variable price option' came automatically, with no increase in cost any to Alberta Crop Insurance policy holders. This feature has a limit of 50% increase from the spring 2021 prices quoted on billing in June of 2021... we will know in a week what these new coverage levels are, looks like Canola will be close to $18/bu after the 50% calculation for the average price in the month of Oct 2021... a rough calculation indicates all grain crops will increase the 50% from spring 2021.

Cheers

That sure would have helped us out this year
Big time. Where rhe hell is apes ass? Oh ya forgot
Too busy dealing with miniature drought programs
That helped very few in the end. Big deal you write
Off 14 bushel barley it was so short wouldn’t have been
Anything harvested anyway so it already was a write
Off. But notice how the spin is on the ape ass website?
Oh we pushed for zero barley charge and government
Responded. Lmao! But now what are you saying
About the zero yield that will stay in coverage calculation
For 10 years. Just wiped out 10% of coverage for rhe next
10 years. And premium will go up so you didn’t get
Paid anything in fact you lost money on the insurance.

How about you show us ape ass how this works. Every
Year there is a wipeout you charge rhe rms 10% less
For your services and you keep adding those discounts
For the next 10 years dropping them off after 10 years
What would happen? You’d be broke unable to run after
3 or so losses wouldn’t you?

[GDR]

In Alberta, the 'variable price option' came automatically, with no increase in cost any to Alberta Crop Insurance policy holders. This feature has a limit of 50% increase from the spring 2021 prices quoted on billing in June of 2021... we will know in a week what these new coverage levels are, looks like Canola will be close to $18/bu after the 50% calculation for the average price in the month of Oct 2021... a rough calculation indicates all grain crops will increase the 50% from spring 2021.

Cheers

You are still limited to your total dollar coverage per acre ( according to AFSC but I can't find in the wording where it says that)so that benefit really shines when you have a small loss. Big losses where you are paid all or the majority of the coverage already you will not get any more.

[TOM4CWB]

You are still limited to your total dollar coverage per acre ( according to AFSC but I can't find in the wording where it says that)so that benefit really shines when you have a small loss. Big losses where you are paid all or the majority of the coverage already you will not get any more.

Not so.

The total Kg coverage per acre is the constant. The value/kg is determined in Oct of 2021 it then is the simple calculation kg/ac x $/kg = new value of coverage per acre, capped at a 50% increase from the base prices approved/announced in Feb of 2021. This also increases the hail rider if the insured chooses hail coverage as well as all risk crop insurance. The total coverage including hail and crop insurance per crop kind, cannot pay out more than the total indemnity, say 1000ac Canola at 600kg/ac = 600,000kg x the new Oct 21 price of [ $.480/kg x 50% = $.240/kg then + the $.480/kg = $.720/ac new Oct 21 price x 600,000kg coverage on that 1000 ac insured. The combined hail loss and all risk crop insurance loss together cannot exceed the $432,000 insurance coverage per that crop [1000ac] covered.

Cheers

[GDR]

Not so.

The total Kg coverage per acre is the constant. The value/kg is determined in Oct of 2021 it then is the simple calculation kg/ac x $/kg = new value of coverage per acre, capped at a 50% increase from the base prices approved/announced in Feb of 2021. This also increases the hail rider if the insured chooses hail coverage as well as all risk crop insurance. The total coverage including hail and crop insurance per crop kind, cannot pay out more than the total indemnity, say 1000ac Canola at 600kg/ac = 600,000kg x the new Oct 21 price of [ $.480/kg x 50% = $.240/kg then + the $.480/kg = $.720/ac new Oct 21 price x 600,000kg coverage on that 1000 ac insured. The combined hail loss and all risk crop insurance loss together cannot exceed the $432,000 insurance coverage per that crop [1000ac] covered.

Cheers

I did word that wrong, not per acre but total indemnity per crop. Regardless you have it figured that the indemnity will rise with the VPB and I hope you are correct. Thats not what I am told by the local AFSC office.

Why it matters to me is I had virtually all my wheat hailed 100% except for 80 acres at 65%. So I will be settled for almost the full amount of the spring price indemnity number. Office says that VPB will not go beyond that amount. Again, hope you are right and I cannot see where it says its capped there, just what they said. It's a big chunk of change at 50% increase.

[TOM4CWB]

I did word that wrong, not per acre but total indemnity per crop. Regardless you have it figured that the indemnity will rise with the VPB and I hope you are correct. Thats not what I am told by the local AFSC office.

Why it matters to me is I had virtually all my wheat hailed 100% except for 80 acres at 65%. So I will be settled for almost the full amount of the spring price indemnity number. Office says that VPB will not go beyond that amount. Again, hope you are right and I cannot see where it says its capped there, just what they said. It's a big chunk of change at 50% increase.

Past years, like this year again... on the spot loss Crop Insurance co-coverage hail portion... you will get a cheque in the mail for the 50% increase in your hail coverage[if that is the determined amount]... then that automatically comes with the Variable Price Benefit [further increasing your hail coverage pay out per acre on the spot loss provision] that is imbedded in the base Crop Insurance policy[if you took the Hail option in your Crop Insurance policy]. Every year when we have hail... we get more spot loss hail money in late November if prices increase [more than 10% minimum] determined in the calculation of the October daily average street prices in Alberta.

P.S. If your hail payout was = to your total [new] all risk coverage on you wheat... THEN you would be capped at that level with the all risk production insurance total new coverage level increased by the VPB Oct adjustments.

Cheers