As we gear up for a couple of our largest sales closing dates in the upcoming months, 2/28 and 3/15, we would like to take this opportunity to provide helpful information regarding application requirements in addition to entity information.
When completing an application form and/or a policy change form, it is imperative that the following items are verified prior to submission to eliminate potential errors/issues being found at a later date:
- Named insured (coverage does not extend out to any other person having a share or interest in the crop)
- All SBIs are listed, as applicable to the entity type
- Tax Identification Numbers for the grower and any SBIs, as applicable to the policy
- Entity Type
- Coverage information, including options
- All the Conditions of Acceptance questions must be answered, and additional documentation submitted if applicable
- State in which articles of incorporation/organization are filed.
- A Partnership Statement must be included with the application, if applicable to the entity type
- Landlord/Tenant must be clearly indicated on the application, if applicable to the policy
- Valid signatures must be provided by both the insured and the agent (if applicable, a POA must be included with the application and be properly signed and dated with crop insurance authority indicated on the form)
- Valid dates must be provided
- Statement advising where authority can be found, if applicable to the entity type
To aid in processing applications, a link to the General Standards Handbook (GSH), which contains the Person Type and Documentation chart in Exhibit 4 is listed below. This is a quick way to reference the following information:
- Reporting requirements for names on the application by specific entity type
- What signatures are valid by specific entity type
- What, if any, additional documentation is required to be submitted with the application
- Required ID numbers by specific entity type
NOTE: Please remember that while Exhibit 4 is a good reference tool, it is just a summary. If you have additional questions specific to a certain entity type, refer to the actual language contained within the GSH, which outlines more in-depth details for each entity type. Using the handbook and Exhibit 4 is the best way to ensure that incorrect person types and entity issues don’t arise during the verification of a claim when potentially some of the errors cannot be resolved.
2023 General Standards Handbook: https://rma.usda.gov/-/media/RMA/Handbooks/Coverage-Plans—18000/General-Standards-Handbook—18190/2023-18190-General-Standards-Handbook.ashx
We look forward to working with you in 2023 and providing exceptional customer service and valuable tools to ensure your success.
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