Judge orders payment to Grabaski partners [Agweek Magazine]
| By Mikkel Pates, Agweek Magazine | |
| McClatchy-Tribune Information Services |
"Like we've said, we didn't do anything wrong with that insurance," Grabanski told Agweek on
The case centers on the Group Risk Income Program, which is designed to protect revenue loss. GRIP participants are indemnified if the county average per-acre revenue for the insured crop falls below the insured's "trigger revenue."
A former crop insurance agent, Grabanski says the government wrote the policy wrong and "screwed up," but he hadn't anticipated a big payday on the insurance. "The government can do whatever they want and there are no repercussions." He says the case unfairly destroyed his credibility. He adds that other similar cases in
Grabanski wasn't able to say how much of an indemnity would come to him, but said, "It'll get a lot of people back some money."
From the beginning
In 2008,
In
In
The RMA denied the claim, saying the partnership did not have an insurable interest in the crop, had failed to provide records, and hadn't followed good farming practices. In
"In sum, there is no legal or factual basis for the director's conclusion that Hanson CF bore no financial risk for loss of the 2008 corn crop," Matsch wrote. He said that on
___
(c)2012 Agweek Magazine (Grand Forks, N.D.)
Visit Agweek Magazine (Grand Forks, N.D.) at www.agweek.com
Distributed by MCT Information Services
| Wordcount: | 728 |


Advisor News
- Most Gen Z investors think less than a year ahead when making financial decisions
- IRI pitches retirement agenda to Jeffries as democrats shape affordability platform
- Help child-free clients plan for their later years
- When new investment trends emerge, Gen Z is most likely generation to be first in
- Could ‘plain English’ become an advisor’s secret weapon?
More Advisor NewsAnnuity News
- Guidance, bulletin or reg? NAIC debates form of annuity illustration update
- Nationwide adds mutual fund-linked strategy to New Heights Select FIA
- NUNN INTRODUCES BILL TO CUT RED TAPE, GIVE IOWANS CLEARER INSURANCE INFORMATION
- NAIC working group pressed to accelerate annuity illustration overhaul
- State Auditor James Brown Kicks Off Life Insurance Awareness Month With Policy Locator Tool
More Annuity NewsHealth/Employee Benefits News
Life Insurance News