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As Crop Closing Date Approaches, Time to Pay Attention to Detail

Farmers, crop insurance agents and crop insurance companies are faced with added work, more questions and higher risk than many can remember as the March...
March 8, 2011

Farmers, crop insurance agents and crop insurance companies are faced with added work, more questions and higher risk than many can remember as the March 15 sales closing date approaches. To survive in today's crop insurance marketplace, agents need to use checklists, do proofreading and communicate with every farmer policyholder in the agency.

A fail-safe system needs to be in place to eliminate agency errors and omissions. With high-dollar commodity prices, high-dollar input costs, and longer-term tails involving agent errors, an agent today cannot afford to have a claim even with an E&O policy to back him up. Checking and double-checking the account BEFORE sales closing dates, production reporting dates, acreage reporting dates and all of the other deadlines in between is the best fail-safe plan. After-the-fact changes are nearly impossible to correct when there is agent error. Don't let an E&O claim spoil your summer, your profitability or your farm client relationship. Check - double check - recheck - and document, document, document!

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