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Insurance product associated with risk management on the application of crop inputs

  • US 20060015360A1
  • Filed: 10/21/2004
  • Published: 01/19/2006
  • Est. Priority Date: 07/19/2004
  • Status: Active Grant
First Claim
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1. An insurance product comprising:

  • a crop risk insurance policy component that insures against risk of loss for at least drought;

    an endorsement assembly associated with the crop risk insurance policy component, the endorsement assembly comprising;

    a grower compliance requirement requiring a grower to comply with a qualified crop input plan for a particular crop in a field;

    a right of payment contingent upon a first yield per unit land area of the particular in the field less than second yield per unit land area of a geographic area by more than a threshold amount, the geographic area covering a greater area than the field and representative of at least one of the soil characteristics and the climate associated with the field; and

    ancillary terms and conditions, the right of payment contingent upon compliance of the grower with the ancillary terms and conditions.

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