Latevo Farm Income Protection
- Option 1: Paid upfront by EFT or cheque
- Option 2: Premium funded (paid by 10 monthly installments)
- Option 3: One third upfront payment by EFT or cheque with the remaining two thirds to be paid as a grain contract due to be delivered by 30 January 2020
- Option 4: One third premium funded (paid by 10 monthly installments) with the remaining two thirds to be paid as a grain contract due to be delivered by 30 January 2020
- Faba Beans
- Field Peas
Latevo Crop Monitor is the online platform that will display your Adjusted Growing Season Rainfall, which will be used in the underwriting process to help determine the category of cover you will be offered.
The EVI or Enhanced Vegetation Index is the the index that measures the vegetative growth in a paddock. The value is measured every day and is recorded in Latevo Crop Monitor.
- Water Stress
- Excessive Rain
- Heat Stress
- Wandering Livestock
- Residual Herbicides
- Grain Hedging Losses
- Accidental Fire
- Chemical Overspray
- Accidental Herbicide Application
- Weed Infestation (out of reasonable control)
- Insect or Pest Manifestation (out of reasonable control)
- Plant Disease (out of reasonable control)
To be eligible for Category 2 and 3, your farming entity must have completed a Latevo Income Assessment, which involves analysis from the previous five production years as well as your estimate for the upcoming season.
The assessment is completed by Agri-Analytics and your broker can help facilitate this process.
You will also be provided with access to Latevo Crop Monitor.
Latevo Farmers Mutual
The Director of the Latevo Farmers Mutual Board will receive a nominal fee. All other board members are voluntary.
Latevo Farmers Mutual is internalising all risks for 2019 and do not have reinsurance. The global reinsurance market is prohibitively expensive and by internalising the risks we can ensure our members are offered risk protection at an affordable price.
The administration costs of running Latevo Farmers Mutual will be less than 30% (dependant on the size of the program).