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Recent News We are pleased to announce that our datacenter relocation has been a success and the first stage of our move has been completed. In the next several weeks ADM Crop Risk services will begin transitioning to our new state of the art facilities in Decatur, IL. and we will be providing everyone with information every step of the way. We will soon be sending out more communication to welcome you to our new building. At that time we will announce our updated contact information with more details and photos of our brand new facilities. ADM Crop Risk Services is committed to providing information to help our customers stay current and relevant in these volatile market conditions. The USDA Report was released 8:30 AM, on January 12th. Mr. Steve Freed, VP of Research for ADMIS, shared his insight and provided his interpretation of this report during an ADMCRS Teleconference at 9:00AM on the morning of January 12th. Click here for more information about this teleconference. Trend-Adjusted APH is available beginning for the 2012 crop year for corn and soybeans for specific counties in CO, IL, IN, IA, KS, KY, MI, MN, MO, NE, ND, OH, SD, & WI. Trend-Adjusted APH, if elected by the Sales Closing Date, adjusts yield in APH databases to reflect increases in yields through time in the county. Trend adjustments are made on each eligible yield within a qualifying APH database based on the county’s historical yield trend, which is provided in the county actuarial documents. The approved APH yield is calculated using trend- adjusted yield, as well as any other applicable yields, within the APH database. Trend-Adjusted APH is available for all coverage levels, except for Catastrophic Risk Protection (CAT) policies. The increase in coverage resulting from the Trend- Adjusted APH yield relative to the APH yield without Trend Adjustment is used to determine the appropriate premium rate. Agents can log into My ADMCRS and download tools for the new Trend Yield APH. The Trend Yield Production Worksheet will allow an agent to see what the trend would do to each unit on a policy. This report works regardless of using Trend Yield APH, it can also be used for production reporting purposes, and is also available from batch printing. The Trend Review Report will allow an agent to see units where the current trend limit is lower than last year’s approved average. These should be carefully reviewed to determine if it is best practice for the insured to elect the TA option. Remember, the current trend limit is subject to change. If production reporting has not yet been completed, the trend yield limit could go up, as the most recent crop year could be the largest yield in a unit’s database. Click here to view the availablity map for Trend Yield APH. Click here to view the procedures for Trend Yield APH. Click here to login and view the new Trend Yield APH tools. ADM Crop Risk Services will be providing a Crop Insurance 101 training session February 7th and 8th at the Hampton Inn in Clinton Missouri located at 900 Kansas Ave.
Please contact your sales representative or call us toll free at 888-5-ADMCRS to RSVP for this event. The 2011 Crop Year harvest prices have been approved and announced by the RMA for the Revenue Protection, Revenue Protection with Harvest Price Exclusion, and Group Risk Income Protection plans of insurance. The prices for the following crops have been released for RP and RPE: Corn, cotton, grain sorgum, rice, soybeans, and sunflowers. The prices for the following crops have been released for GRIP: Corn, grain sorghum, and soybeans. The harvest prices are applicable for the crops, sales closing dates, states, types, and practices indicated in the USDA / RMA table. Click here to view the prices and full memorandum release December 1. Click here to view the prices and full memorandum released November 1. FFA Connections Are Very Strong ADM Crop Risk Services along with ADM Alliance Nutrition participated in the FFA National Conference in Indianapolis this past October. There were 55,000 FFA members and guests from across the country in attendance. Members participated in general sessions, competitive events, educational tours, leadership workshops, a career show and expo, volunteer activities and much more. It is one of the largest annual student conventions in the country. Click here to view the entire article. 2012 Spring Update Don't miss the 2012 Spring Update Meeting that will be taking place in your area. ADM Crop Risk Services will be providing continuing education hours to qualifying crop insurance agents. Key speakers will include Kevin Knapple – National Agent Education Manager along with your local Claims Manager, Underwriter, and Sales Representative.
Click here to view the dates and locations near you and to RSVP online. Every Proposal Has Quirks in Covering Crop Losses There is no shortage of farm-bill proposals for agricultural economists to study, but there is a problem trying to make sense of how each program would play out at the farm level. Several university extension specialists in Plains states are holding risk management and crop-insurance forums this week. Experts thought they would have a single farm bill to break down by Tuesday, but the leaders of the House and Senate Agriculture Committees missed a self-imposed deadline to roll out a bill. Right now, everyone is relying on studying some of the proposals that are at times difficult to analyze. "It's very fluid," said Kansas State University agricultural economist Art Barnaby. "It's hard to tie anybody down on these plans and the thing is most of this is being negotiated right now behind the scenes." Click here to view the full article created by The Progressive Farmer. 2012 Wheat Prevented Planting Guide With the 2012 wheat season upon us, farmers may run into some prevented planting with their crops this fall. There are a few things to consider when an insured has prevented planting. The following is a guide that you can use for prevented planting claims. Click here to view the 2012 Wheat Prevented Planting Guide. * All prevented planting claims are subject to the rules and regulations published by the Risk Management Agency of the United Stated Department of Agriculture. All prevented planting claims are unique and are subject to audit. The following is intended to be used for informational purposes only and is meant to only serve as a guide. NAWG plan supports strong crop insurance The National Association of Wheat Growers has sent its farm bill priorities to House and Senate Ag leaders. NAWG says it strongly opposes “any reductions to the baseline available for the federal crop insurance program.” They say more than 85 percent of non-irrigated wheat acres planted in the U.S. are covered by crop insurance and they consider federal crop insurance “essential.” NAWG says any changes to the direct payment program should be done in “a responsible, staged manner.” They ARE in favor of phasing down direct payments over a few years. However, they say the revenue-based programs proposed by other commodity groups would NOT protect wheat growers when there are “large, rapid commodity price declines accompanied by slower input price declines” as in 2009 and ’10. This article has been reprinted with the permission of Brownfield Ag News for America. Click here for the full news article on Brownfield Ag News. The Risk Management Agency (RMA) has released the 2012 Crop Insurance Handbook (CIH). The 2012 CIH handbook provides underwriting standards and instructions for Multiple Peril Crop Insurance (MPCI) policies insured at catastrophic and additional coverage levels. Listed on the first page is a summary of the changes being made to the FCIC 18010 CIH for 2012 that have the most significant impact. Minor changes and corrections are not included in that listing. Click here to see the full 2012 Crop Insurance Handbook. Commodity Programs and Crop Insurance Crop insurance does not protect against multi-year price declines like those experienced in the mid-1980s and 1998-2002 time periods. Commodity programs can play a role in providing protection during these multi-year price decline periods. In a recent post on Farmdoc Daily, the ability of current farm programs to provide multi-year price protection is examined. These programs include Direct Payments, Counter-cyclical program, Marketing Loan program, Average Crop Revenue Election (ACRE) program, and Supplemental Revenue Assistance Payments (SURE) program. Click here to read the full article on Farmdoc Daily. ADM Crop Risk Services is committed to providing information to help our customers stay current and relevant in these volatile market conditions. The USDA Report was released on September 30. Mr. Steve Freed, VP of Research for ADMIS, shared his insight and provided his interpretation of this report during an ADMCRS Teleconference at 9:00AM on the morning of September 30. Due to the success of these reports, we plan on holding more of these in the future. We will continue to keep you up-to-date on future reports. ADM Grain now has a new Farmer Services website on adm.com and new FarmerView mobile access tool, as well as a new Twitter presence. The new Farmer Services website, located on adm.com, houses all the services ADM offers to farmers in one convenient location, including Grain Marketing Services, Crop Risk Services, ADM Investor Services (ADMIS), and Transportation and Logistics. These services are offered through several different ADM divisions, so this new website was created as a one-stop shop for all the services to make it easier for farmers to access. The FarmerView site, located on e-ADM.com, provides farmers information they need to do business every day, such as current weather and market prices. At the show, ADM unveiled its new mobile application of FarmerView, which enables farmers to access this information via their mobile devices, including iPhones, BlackBerrys or other smart phones. Click here for more information about ADM's new web-based tools. The single most important step in marketing 2012 wheat may be purchasing crop insurance. Texas, Oklahoma, the southern half of Kansas, and southeastern Colorado are all suffering a severe drought. The long-term forecast indicates that the drought will continue. Crop insurance rates will not be available until about September 15. The insured price will be the average of the Kansas City Board of Trade (KCBT) July wheat contract daily close for the August 15 through September 14 time period. At this writing, the KCBT July ’12 wheat contract average close has been $8.50. If production loss occurs, $8.50 is not a bad price to guarantee for 70 percent of average production. This article has been reprinted with the permission of the Southwest Farm Press. Click here to read the full article on the Southwest Farm Press website.
A.M. Best Co. Affirmed Rating of A- (Excellent) ADM Crop Risk Services is pleased to announce A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) for Agrinational Insurance Company, the reinsurance company utilized by ADM Crop Risk Services. The ratings are based on Agrinational's excellent capitalization levels, overall favorable operating performance and its strategic role as a captive insurer of Archer Daniels Midland Company (ADM). Partially offsetting the favorable rating factors is the high net retention on Agrinational's property exposures, which has produced some variability in operating results. Also, as a single parent captive, Agrinational is exposed to concentration risk since its primary source of business is from one company. Agrinational also provides insurance for a limited amount of third party business sourced through an industry pooling arrangement. As a means of diversifying its investment portfolio, Agrinational has invested in the leasing of railcars and barges. Management considers these investments as long term and a better alignment of the company's capital structure while providing stability in investment returns. A.M. Best remains the leading rating agency of captive insurers rating a wide variety of more than 200 captives in the United States and throughout the world. |
