Hail Insurance Short Date Cancellation

Hail Insurance Short Date Cancellation

Purpose

  • Producers with Hail Insurance may cancel their coverage and receive a refund of a portion or all of their hail premium, as set forth in the Short Date Cancellation Table (on opposite side). This provision allows producers to cancel Hail Insurance for acres that suffer an early season loss due to conditions such as frost or excess moisture that makes the crop non-viable.

Eligibility

Annual Application

  • Producers who make an annual Hail Insurance application may cancel their Hail Insurance for any reason, provided no hail losses were paid on these acres and the crop was not harvested or put to an alternate use.

Continuous Hail Insurance Option (CHIO)

  • Producers participating in CHIO can only cancel Hail Insurance if the acres are non-viable and have been appraised by MASC and subsequently destroyed.
  • Crops that are harvested or put to alternate use are not eligible for a short date cancellation.
  • Acres destroyed as part of a reseed or Stage 1 claim (prior to June 20) are not charged premiums under CHIO unless there was a payable hail claim prior to destruction.

Other Program Information

  • In order to receive a Hail Insurance indemnity, there must be sufficient crop production potential prior to the occurence of the loss.
  • If a viable crop is not present (total acres or a portion of the field), the insured should contact MASC as soon as possible to initiate the Hail Short Date Cancellation process.

Notification

  • Producers must notify MASC in writing (in person, by fax or by mail) or online at myMASC.
  • It is important that written notification is provided as early as possible, as the premium earned increases on a daily basis.
    • If notification is mailed, the dated post mark will be used as the cancellation date.
    • If notification is given in person or by fax, the actual date of receipt will be used.
    • If notification is given online at myMASC, the actual date of submission will be used.

Short Date Cancellation Tables

Table 1:
Strawberries, Fall Rye, Select Hay, Basic Hay, Alfalfa Seed, Perennial Ryegrass, Tall Fescue, Pedigreed Timothy Seed, Winter Wheat, and V.A.L. Crops

 

Table 2:
All Other Crops


Date Percent of Premium Earned   Date Percent of Premium Earned
May 30 and Before Nil   June 29 and Before Nil
May 31 10 per cent   June 30 10 per cent
June 1 12 per cent   July 1 12 per cent
June 2 14 per cent   July 2 14 per cent
June 3 16 per cent   July 3 16 per cent
June 4 18 per cent   July 4 18 per cent
June 5 20 per cent   July 5 20 per cent
June 6 22 per cent   July 6 22 per cent
June 7 24 per cent   July 7 24 per cent
June 8 26 per cent   July 8 26 per cent
June 9 28 per cent   July 9 28 per cent
June 10 30 per cent   July 10 30 per cent
June 11 33 per cent   July 11 33 per cent
June 12 36 per cent   July 12 36 per cent
June 13 39 per cent   July 13 39 per cent
June 14 42 per cent   July 14 42 per cent
June 15 45 per cent   July 15 45 per cent
June 16 48 per cent   July 16 48 per cent
June 17 51 per cent   July 17 51 per cent
June 18 54 per cent   July 18 54 per cent
June 19 57 per cent   July 19 57 per cent
June 20 60 per cent   July 20 60 per cent
June 21 64 per cent   July 21 64 per cent
June 22 68 per cent   July 22 68 per cent
June 23 72 per cent   July 23 72 per cent
June 24 76 per cent   July 24 76 per cent
June 25 80 per cent   July 25 80 per cent
June 26 84 per cent   July 26 84 per cent
June 27 88 per cent   July 27 88 per cent
June 28 92 per cent   July 28 92 per cent
June 29 96 per cent   July 29 96 per cent
June 30 and After 100 per cent   July 30 and After 100 per cent

Premium Refund Example

A producer insures acres of oats at the $ per acre coverage level. The Hail Insurance premium is $ per acre for a total of $.

In July, excess moisture destroys the entire crop. On July 10, the insured contacts MASC to cancel his Hail Insurance as he wants to work the field.

Premium Earned
(as of July 10)
  = per cent (see Table 2)
Premium Refund   = $ x per cent
  = $

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