Common use of Calculation of Indemnity Clause in Contracts

Calculation of Indemnity. ‌ a. Prior to first cut Haying Being General in the Area, as determined by AFSC, an Indemnity will be calculated as follows: i. if selected by the Insured, a Premium refund on damaged acres; or ii. an Indemnity not to exceed 50 percent of the Dollar Coverage; or iii. Appraised Potential Production shall not be less than 50 percent of Coverage. b. If only a portion of the total acreage of is released because of damage, the appraisal will be added to the Adjusted Production from the remaining acreage. c. Once all the Harvested Production and Appraised Potential Production for the Insured is reported for the year: i. If the Insured incurs a loss from Designated Perils on or before October 15 in each year, the Indemnity for the ▇▇▇▇▇▇▇ ▇▇▇ will be calculated as follows: 1) [(Coverage – Adjusted Production) x Insurance Price] – Wildlife Damage Compensation Program payments. ii. AFSC, in its discretion, may apply the Appraised Potential Production, and a Grade Factor on the Appraised Potential Production if the Insured has not completed harvest on or before October 15.

Calculation of Indemnity. ‌ a. Prior to first first-cut Haying Being General in the Area, as determined by AFSC, an Indemnity will be calculated as follows: i. if selected by the Insured, a Premium refund on damaged acres; or ii. an Indemnity not to exceed 50 percent of the Dollar Coverage; or iii. Appraised Potential Production shall not be less than 50 percent of Coverage. b. If only a portion of the total acreage of is released because of damage, the appraisal will be added to the Adjusted Production from the remaining acreage. c. Once all the Harvested Production and Appraised Potential Production for the Insured is reported for the year: i. If the Insured incurs a loss from Designated Perils on or before October 15 in each year, the Indemnity for the ▇▇▇▇▇▇▇ ▇▇▇ will be calculated as follows: 1) [(Coverage – Adjusted Production) x Insurance Price] – Wildlife Damage Compensation Program payments. ii. AFSC, in its discretion, may apply the Appraised Potential Production, and a Grade Factor on the Appraised Potential Production if the Insured has not completed harvest on or before October 15.