Extension of the Deadline for Cash Discounts for Fully Paid Crop‐Hail Insurance Premiums

KIM REYNOLDS DOUG OMMEN GOVERNOR COMMISSIONER OF INSURANCE ADAM GREGG LT. GOVERNOR TWO RUAN CENTER / 601 LOCUST STREET / 4th FLOOR / DES MOINES, IOWA 50309-3738 Telephone 515-281-5705 / Facsimile 515-281-3059 / https://iid.iowa.gov BULLETIN 20-11 To: Property and Casualty Insurance Companies Qualified to Write Crop‐Hail Insurance in Iowa From: Doug Ommen, Iowa Insurance Commissioner RE: Extension of the Deadline for Cash Discounts for Fully Paid Crop‐Hail Insurance Premiums Date: August 14, 2020 _____________________________________________________________________________________ On August 10, 2020, a derecho storm hit many Iowa counties. The storm’s wind speeds, that were recorded to be as high as 100 miles per hour, have reportedly caused damage to more than 10 million acres, or 43 percent, of Iowa’s crop lands. Additionally, the storm has caused massive and ongoing power outages leaving many Iowa farmers without phone, internet or postal services. Without these services, farmers may be unable to meet the August 15th deadline, established by Bulletin 18-02, to receive a cash discount for fully paid crop-hail insurance premiums. The purpose of this bulletin is to extend the premium payment deadline in order to receive the cash discount from August 15th to August 31st and to provide those farmers facing hardship from the derecho storm the ability to take advantage of that discount. All other provisions of Bulletin 18-02 remain unchanged and this extension applies only to the 2020 crop season.