Enterprise Plus (EP+)

 

The EP+ policy supplements the coverage provided by the Multi-Peril Crop Insurance policy.  The EP+ policy is a private policy and is not reinsured by the FCIC.  Only three companies in South Dakota are offering this coverage for the 2013 crop year, and our company, ProAg, is one of the three.  The intent of the EP+ policy is to allow the farmer the opportunity to protect yield and/or price at a sub-unit level.

 

Stipulations for getting EP+:

  •  You must have any Enterprise Policy with the Trend Adjusted option and at least 75% level of coverage.  Failure to qualify for the Enterprise unit will cause the EP+ coverage to expire.

 

  • The EP+ corn and soybeans policies must be purchased at a level of at least 5% below your underlying Enterprise policy.

 

  • If the underlying Enterprise policy triggers an indemnity, then the EP+ liability is zero, and the premium is still earned and payable.

 

  • The EP+ is only available on insured databases with 10 units or less.  Farmers with more than 10 units would have to combine some units together to have a total of 10 or less units.

 

  • If the farmer elects to insure only a single EP+ sub-unit, the election must be made on the EP+ application.  There will be no EP+ coverage on the sub-units not identified on the application.

 

  • If you have both irrigated units and non-irrigated units for the same crop in the same county, you may not insure that crop in that county under the EP+.

 

  • The EP+ policy is an annual policy.  You must submit an application each year to obtain coverage.

 

  • Sales closing date for the EP+ is May 25th
  • Combination of units is due by May 25th