Hurricane Insurance Protection – Wind Index (HIP-WI) Changes

When provided in the actuarial documents, the HIP-WI Endorsement is available for both Catastrophic (CAT) and additional coverage for Common Crop Insurance Policy Basic Provisions policies in counties near the Gulf of Mexico, Atlantic Ocean and Hawaii.

Per Product Management Bulletin: PM-22-038, effective for the 2023 and succeeding crops years for crops with a contract change date of June 30, 2022, or late the following changes are applicable:

• Revisions to the definition of “Hurricane coverage range”
• Clarification that the coverage provided by the endorsement may be combined with other endorsements that do not duplicate the coverage of HIP-WI, and it is not limited to the Supplemental Coverage Option (SCO) Endorsement and the Stacked Income Protection Plan (STAX)
• Revision to clarify that other endorsements not limited to SCO and STAX may be used to calculate the Hurricane Protection Amount.

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