The following changes are applicable for the 2024 and succeeding crop years:
- Added that for the initial year the Tropical Storm option is elected, coverage will not begin until the later of 14 days after the sales closing date or the end of the waiting period for the Underlying Policy when the Underlying Policy also requires a similar waiting period.
- Clarified the definition of “Weather Event” to indicate the conditions necessary to qualify as a hurricane or tropical storm.
For additional information, reference Product Management Bulletin: PM-23-036.
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