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ICGA urges growers to document lossesIowa The Iowa Corn Growers Association Oct. 7 reminded all Iowa farmers about the importance of confirming record-keeping requirements prior to harvest and keeping detailed records, especially for growers who have experienced serious crop losses this year. Detailed records and care in segregating insured grain may be critical to claiming benefits under existing crop insurance programs. Given the current economic climate, private insurers may be increasing their audit activities, making thorough records more crucial to proving claims. Farmers are urged to contact their crop insurance agents to review the insurance requirements to prove a loss prior to beginning harvest. Records are also likely to be valuable as growers assess how the new farm programs cam help them manage risk in volatile markets. New programs like the Average Crop Revenue Election program and the Supplemental Revenue Assistance Payment permanent disaster program offer tools for adapting to new market conditions and are worth the time it takes to calculate their benefits for an individual operation, the ICGA reported. The organization also emphasized the importance of thorough record-keeping as the basis for applying for ACRE and SURE. Until regulations are complete and it's clear what records will be required to participate in the new programs, growers would be wise to save all receipts and records. 10/20/08 Date: 10/15/08 Advertisement
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