Common use of Calculation of Indemnity Clause in Contracts

Calculation of Indemnity. ‌ a. The total Indemnity and the total Dollar Coverage, including Variable Price Benefit and Quality Loss, from the associated Crop Insurance Policy are used to calculate the loss percentage for the insured dryland and insured irrigated acres separately. The Indemnities that are used for the calculation will be the gross awards from the pre-harvest Statement of Loss and post harvest Statement of Loss. The loss percentages for will be calculated as follows: i. Loss percentage on dryland acres = (Pre-harvest gross award on dryland acres + Post harvest gross award on dryland acres) / Total Dollar Coverage on dryland acres ii. Loss percentage on irrigated acres = (Pre-harvest gross award on irrigated acres + Post harvest gross award on irrigated acres) / Total Dollar Coverage on irrigated acres iii. The loss percentages from the Insured’s Crop Insurance Policy will be multiplied by the total Dollar Coverage for the New Crop Insurance Initiative (NCII) Policy to calculate the Indemnity as follows: iv. NCII Indemnity = (Loss percentage on dryland acres x NCII Dollar Coverage on dryland acres) + (Loss percentage on irrigated acres x NCII Dollar Coverage on irrigated acres) v. The maximum Indemnity payable shall be 100% of the Dollar Coverage.

Calculation of Indemnity. ‌ a. The total dollar Indemnity and the total Dollar dollar Coverage, including Variable Price Benefit and Quality Loss, from the associated Crop Insurance Policy are used to calculate the loss percentage for the insured dryland and insured irrigated acres separately. The Indemnities that are used for the calculation will be the gross awards from the prePre-harvest Harvest Statement of Loss and post harvest Post Harvest Statement of Loss. The loss percentages for will be calculated as follows: i. Loss percentage Percentage on dryland acres Acres = (Pre-harvest gross award Harvest Gross Award on dryland acres Dryland Acres + Post harvest gross award Harvest Gross Award on dryland acresDryland Acres) / Total Dollar Coverage on dryland acresDryland Acres ii. Loss percentage Percentage on irrigated acres = (Pre-harvest gross award Harvest Gross Award on irrigated acres Irrigated Acres + Post harvest gross award Harvest Gross Award on irrigated acresIrrigated Acres) / Total Dollar Coverage on irrigated acresIrrigated Acres iii. The loss percentages from the Insured’s Crop Insurance Policy associated annual crop production contract will be multiplied by the total Dollar dollar Coverage for the New Crop Insurance Initiative (NCII) Policy Contract to calculate the Indemnity as follows: iv. NCII Indemnity = (Loss percentage Percentage on dryland acres Dryland Acres x NCII Dollar Coverage on dryland acresDryland Acres) + (Loss percentage Percentage on irrigated acres Irrigated Acres x NCII Dollar Coverage on irrigated acresIrrigated Acres) v. The maximum Indemnity payable shall be 100% of the Dollar Coverage.

Calculation of Indemnity. ‌ ‌ a. The total Indemnity and the total Dollar Coverage, including Variable Price Benefit and Quality Loss, from the associated Crop Insurance Policy are used to calculate the loss percentage for the insured dryland and insured irrigated acres separately. The Indemnities that are used for the calculation will be the gross awards from the pre-harvest Statement of Loss and post harvest Statement of Loss. The loss percentages for will be calculated as follows: i. Loss percentage on dryland acres = (Pre-harvest gross award on dryland acres + Post harvest gross award on dryland acres) / Total Dollar Coverage on dryland acres ii. Loss percentage on irrigated acres = (Pre-harvest gross award on irrigated acres + Post harvest gross award on irrigated acres) / Total Dollar Coverage on irrigated acres iii. The loss percentages from the Insured’s Crop Insurance Policy will be multiplied by the total Dollar Coverage for the New Crop Insurance Initiative (NCII) Policy to calculate the Indemnity as follows: iv. 1) NCII Indemnity = (Loss percentage on dryland acres x NCII Dollar Coverage on dryland acres) + (Loss percentage on irrigated acres x NCII Dollar Coverage on irrigated acres) v. The maximum iv. In no case shall the combined Indemnities under any Insuring Agreement (including Hail Endorsement) exceed total Dollar Coverage under this Contract. b. If the Indemnity payable shall rate or loss percentage for the Insured’s Crop Insurance Policy is not available or insufficient to calculate the payment rate, this Contract will cease to be 100% of enforceable against AFSC and cease to have any effect against AFSC. AFSC will then return to the Dollar CoverageInsured all paid Premium, less any applicable discount.

Calculation of Indemnity. ‌ a. The total Indemnity and the total Dollar Coverage, including Variable Price Benefit and Quality Loss, from the associated Crop Insurance Policy are used to calculate the loss percentage for the insured dryland and insured irrigated acres separately. The Indemnities that are used for the calculation will be the gross awards from the pre-harvest Statement of Loss and post harvest Statement of Loss. The loss percentages for will be calculated as follows: i. Loss percentage on dryland acres = (Pre-harvest gross award on dryland acres + Post harvest gross award on dryland acres) / Total Dollar Coverage on dryland acres ii. Loss percentage on irrigated acres = (Pre-harvest gross award on irrigated acres + Post harvest gross award on irrigated acres) / Total Dollar Coverage on irrigated acres iii. The loss percentages from the Insured’s Crop Insurance Policy will be multiplied by the total Dollar Coverage for the New Crop Insurance Initiative (NCII) Policy to calculate the Indemnity as follows: iv. 1) NCII Indemnity = (Loss percentage on dryland acres x NCII Dollar Coverage on dryland acres) + (Loss percentage on irrigated acres x NCII Dollar Coverage on irrigated acres)) – Wildlife Damage Compensation Program payments v. The maximum Indemnity payable iv. In no case, for an Insured Crop, shall be 100% of the combined Indemnities under any Insuring Agreement (including Hail Endorsement) and Wildlife Damage Compensation Program payments exceed total Dollar CoverageCoverage under this Contract.