Agri-sompo: There was a programming error in the PCCP (pandemic cover crop program). This is the program that gives each farmer a $5.00 credit on their MPCI billing for planting a cover crop. This has to be reported to FSA then it is data mined by the respective insurance providers. The error in programming came from pulling 2021 and 2022 PCCP acres, resulting in a higher credit and in some cases, when the error was corrected, it left insureds owing a balance due. We have been assured that the billing issues have been resolved and the correct statements are being mailed. Premiums are due October 1st with no interest attaching until December 1st. To be safe please have your premiums mailed before Thanksgiving to allow for mail time.
RCIS: We do not have this issue with the double credit for PCCP, and premium is due the same time October 1st and no interest attached until December 1st.
Both companies have a due date of November 30th, 2022, without interest so make sure to get your checks in the mail to allow for mailing time.
If you have pending losses that will not get paid before the premium due date, please make sure to pay the premium as the interest will be backdated to August 15th. Losses have been taking longer than normal this year. Currently they are about 3-5 weeks once the claim is signed! So, please do not rely on loss credits to make it on the billing statement prior to interest attaching.
If you have any questions regarding billing please do not hesitate to contact the office!