Acreage Report:  A report that is required by the policy for the insured to complete their share of all acreage of the insured crop in the county whether the crop is insurable or not insurable.
Acreage Reporting Date:  The date the acreage report must be filed by the insured to the agent.
Actual Production History (APH):  The average yield determined for an insured for the insured crop using actual production for a maximum of 10 years and/or assigned county yields for a minimum of four years.
Added Land:  Crops and acreage added for the current crop year to the insured person's family operation within the county.
Additional Coverage:  A level of coverage greater than catastrophic risk protection.
Administrative Fee:  The annual fee that the producer must pay in addition to the premium per crop per county for any multi-peril coverage.
Approved APH Yield:  The amount of production per acre, using actual and/or assigned yields for a unit that an insured's guarantee and premium rate are determined.
Assigned Yield:  Yield used when no production records are provided by the insured for the applicable crop year.
Assignment of Indemnity:  A form in which the insured can sign their right and interest to an indemnity payment over to a lender.

Base Period:  Ten consecutive APH crop yields immediately preceding the current policy crop year for which the approved APH yield is established.  APH crop years do not necessarily mean calendar years.  Apples and peaches only require five consecutive crop years.
Base Price:  For CRC, it is determined by using 100% of the August Average Daily Settlement Price of the pre-harvest year for the September CBOT harvest contract, plus a basis adjustment.

Cancellation Date:  The calendar date in which the crop policy will automatically renew unless canceled in writing by either the insured or the insurer.
Catastrophic Risk Protection (CAT):  The minimum level of coverage offered by FCIC which meets the requirements for a person to qualify for certain other USDA benefits.
Continuous Policy:  Coverage renews every year on an MPCI policy until canceled in writing.
Crop Hail Insurance:  Crop insurance that covers losses primarily due to hail.  This coverage is underwritten and financed by private companies.
Crop Revenue Coverage (CRC):  Provides revenue coverage for losses due to low price, low yield, or any combination of these.  It offers the protection for an insured to actively market their crop.
Crop Year:  The period in which the insured crop is normally grown and harvested.

Established Price:  The price per unit of production issued by the RMA by each crop's filing date.
Expected Market Price:  The price per unit of production anticipated during the period the inured crop normally is marketed by producers.  The price is set and announced by RMA not less than 15 days prior to sales closing for the crop.

FCIC:  The Federal Crop Insurance Corporation, a wholly Government Corporation, administered by the Risk Management Agency within USDA.
Final Planting Date:  The date for the insureds by which the crop must initially be planted to be insured for the full production guarantee or amount of insurance per acre.

Good Farming Practices:  The production methods utilized to produce the insured crop and allow it to make normal progress toward maturity and produce at least the yield used to determine the production guarantee or amount of insurance, including any adjustments for late planted acreage, which are: (1) for conventional or sustainable farming practices, those generally recognized by agricultural experts for the area; or (2) for organic farming practices, those generally recognized by the organic industry or contained in the organic plan.  We may, or you may request us to, contact FCIC to determine whether or not production methods will be considered to be "good farming practices."
Gross Production:  Net delivered production or the commodity prior to deductions made for dockage, test weight, moisture content, quality, etc.
Guarantee:  Approved APH yield multiplied by the level of coverage chosen by the insured.

Harvest Price:  For CRC, based on the Portland Merchant's Exchange, uses 100% of the August Average Daily Settlement Price-not to be +/- $2.00 from the Base Price.
Income Protection:  Provides coverage against reduction in gross income for below average yields and low harvest prices.  This covers all acreage of the crop in the county in one unit.  IP differs from CRC in that it only provides downside protection
Indemnity:  The payment that an insured receives if the yield on an insured crop is less than the guarantee specified on the policy.
Insurance Provider:  A company reinsured by FCI providing crop insurance to producers participating in any Federal crop insurance program administered under the Federal Crop Insurance Reform Act of 1994.
Insured:  The named person/entity as shown on the application by the Insurance Provider.
Irrigated Practice:  A method of producing a crop by which water is artificially applied during the growing season by appropriate systems and at the proper times, with the intention of providing the quantity of water needed to produce at least the yield used to establish the irrigated production guarantee.

Level of Coverage:  A crop may be insured at 50-75% and for some crops 80 & 85% of the approved APH yield of amount of insurance.  All acreage of the insured crop within a county must be insured at the same level.

Multi-Peril Crop Insurance:  Crop insurance regulated and subsidized by FCIC that insures a producer against numerous perils.

Person/Entity:  An individual, partnership, association, corporation, estate, trust, or other legal entity and wherever applicable, a sate or a political subdivision or agency of a state.
Practice:  Irrigated or Non-Irrigated, Summer Fallow/Continuous Crop
Production Guarantee (per acre):  The number of bushels, tons, pounds, cartons, or other applicable units of measure determined by multiplying the approved (APH) yield per acre by the coverage level percentage elected.
Production Report:  A written record showing the insured crop's planted acreage and annual production used to determine the insured's actual yields for insurance purposes.  The report must be signed, dated and submitted by the production reporting date.
Production Reporting Date:  The latest date production reports will be accepted for inclusion in the database used to calculate approved APH yields for the current crop year.

RMA Regional Office (RO):  The Risk Management Agency (RMA) Field Underwriting and Program Services office for a designated area (states).

Sales Closing Date:  Last possible date to take out a MPCI application or make other changes to an existing policy for the current crop year.
SBI (Significant Business Interest, Substantial Beneficial Interest):  All individuals or corporations having more than 10% interest in the entity/farming operation.
Schedule of Insurance (SOI):  Also known as Summary of Coverage or Dec Sheet which shows coverage and premium by unit as well as premium due for the policy.  These are completed after submission of the acreage report.
Section (for the purposes of unit structure):  A unit of measure under a rectangular survey system describing a tract of land usually one mile square and usually containing approximately 640 acres.
Share:  The insured's percentage of interest in the insured crop as an owner, operator, or tenant at the time coverage begins.
          Cash Lease (100% Share): Acreage rented for cash is considered a cash lease.  A lease containing provisions for either a minimum payment or a crop share will be considered a cash lease.
          Crop Share:  Acreage rented for a percentage of the crop will be considered a crop share lease.  A lease containing provisions for both a minimum payment and a crop share will be considered a crop share lease.
Substituted Yield:  A yield established by multiplying the applicable county crop T yield by 60 percent.

Tenant:  Producer or farmer, usually having the largest share in a crop.
T Yield (Transitional Yield):  An estimated yield provided in the Actuarial Table which is used in calculating average/approved APH yields when less than four years of actual, temporary or assigned yields are available.

Unit:  The insurable acreage of the insured CROP in the COUNTY taken into consideration when determining the approved APH yield, production guarantee/amount of insurance, and the amount of any indemnity (loss payment).  Each insured crop's unit structure is defined in the policy and/or respective endorsement.

Waiver (linkage):  An FSA document that, when signed by a producer, relinquished that producer's eligibility for emergency crop loss assistance and satisfies linkage to be eligible for other USDA program benefits.
Written Agreement:  A document that alters designated terms of an additional coverage policy and that is authorized by under the basic provisions, the crop provisions, or special provisions, for the insured crop.

Yield Floor:  For certain APH crops, the lowest approved APH yield allowed under APH procedures if insured has provided at least one year of acceptable records.

ACRONYMS

AGR-Adjusted Gross Revenue
APH-Actual Production History
A/R-Acreage Reporting
ARD-Acreage Reporting Date
BUD-Basic Unit Discount
CAT-Catastrophic Risk Protection
CEO-Coverage Enhancement Option
CIH-Crop Insurance Handbook
EIN-Employee Identification Number
FSN-Farm Serial Numbers
FCIC-Federal Crop Insurance Corporation
FSA-Farm Service Agency
GSI-Growing Season Inspection
IPA-Insurance Per Acre
IRR-Irrigated
ITS-Ineligible Tracking System
LAM-Loss Adjustment Manual
MPCI-Multiple Peril Crop Insurance
NAP-Non-Insured Assistance Program
NCIS-National Crop Insurance Services
NI-Non-Irrigated
NID-No Indemnity Due
NP-Named Peril
NPS-No Practice Specified
NTS-No Type Specified
PRD-Production Reporting Date
P/T/V-Practice/Type/Variety
RAR-Revised Acreage Report
RMA-Risk Management Agency
RO-Regional Office
SBI-Substantial Beneficial Interest or Significant Business Interest
SCD-Sales Closing Date
SRA-Standard Reinsurance Agreement
SSN-Social Security Number
TIN-Tax Identification Number
USDA-United States Department of Agriculture
YA-Yield Adjustment