To:
Pork Producers
This letter is to inform you of the insurance offered by Indiana
Packers Corporation.
Benefits to this program include:
Immediate
Claims Payment
For death losses only which
occur as a result of transit, Indiana Packers will reimburse the
producer along with the settlement for the remainder of the same load of
hogs.
- No filing claim with underwriter.
- No waiting for claims payment.
Competitive
Rate
The cost for this program will be at a base rate of $.3500 per $100
sales. The insurance rates for each producer are reviewed
semi-annually and are subject to change with written notification to
each producer. There are three levels of insurance rates:
Low Risk
|
$.3500 per $100 sales
|
Moderate Risk
|
$.4000 per $100 sales
|
High Risk
|
$.5000 per $100 sales
|
Defined
Coverage
Coverage is defined for animals which die in transit only. Any hogs that
are loaded with the intent to Resale are not covered by the transit
insurance (i.e.; boars, sows, small pigs, large abscesses, scars, broken
legs, down hogs, etc.) Also not included in the coverage is the
mishandling of hogs, trucker negligence (i.e.; overloading, excessive
beating, prodding or any other inhumane treatment of the hogs.)
All trucking companies and individuals must have a completed bill of lading accompanying
each load of hogs.
Individual Producers with excessive death loss could be subject to, but
not limited to the following:
- Increased premiums.
- In severe cases, dropped from the insurance program.
No
Deductible
First dollar coverage.
Automatic
Coverage
No reports to complete. Values will be reported by Indiana
Packers and premiums will be charged automatically.
Producer
Cancellation
In the event a Producer wishes to cancel coverage, Indiana Packers
Corporation will do so with a signed copy of the Insurance Cancellation
Form. Indiana Packers Corporation is not obligated to offer the
Insurance Program at a specific date in the future. Furthermore,
Indiana Packers Corporation is not responsible for death or injury to
livestock during transit.
Right to
Cancel
Indiana Packers reserves the right to discontinue or cancel this
coverage for individual producers or for group coverage with written
notification. Indiana Packers Corporation's goal is to offer the
Producer a fair well maintained insurance program with maximum coverage
while maintaining the lowest rates possible.
Please let us know if you have any questions.
Thank you for your support.
Suzanne Hughes
Procurement Office Manager
Indiana Packers Corporation
updated 9/16/03 sh
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Packers Corporation. All Rights Reserved