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Fire Perils Crop Insurance Scheme

Fire Perils Crop Insurance Scheme provides cover for accidental fire damage caused to a crop or trash blanketed cane (other than controlled burn-off). CGU Insurance is the Underwriter of this Scheme which is only provided to Members of CANEGROWERS.

A CANEGROWERS Mackay Staff member will assist the grower to:
* Contact the Insurer
* Complete a claim
* Arrange for an 'Assessment of Loss Report' to be completed which details:
- actual damage to property and recommended activities to be undertaken to re-establish farm, eg, additional fertilising, irrigation etc 
- loss of standing cane
* Notify the Insurer once the re-establishment activities have been completed and arrange for reimbursement of additional costs incurred by the grower (as detailed in the 'Assessment of Loss Report')
*Arrange for a report to be completed following the subsequent crush to determine the yield loss (tonnes of cane)
*Notify the Insurer of yield loss tonnage and arrange for payment at the insured indemnity rate amount or 90% of the value per tonne of cane the Member would have received, if it had not been subject of a claim, whichever is the lesser

Insurance – Mackay Sugar Area

4.50 cents per tonne of cane - Nil excess

Premium = 4.50 cents (4.09 cents + 0.41 cents stamp duty) therefore the GST component is 0.41 cent per tonne of cane

The Crop Insurance Levy for the 2020 season is set at 4.91 cents per tonne cane which includes GST and Stamp Duty and provides for cover of $35 per tonne cane with nil excess..

Crop Insurance – Plane Creek Area

3.08 cents per tonne of cane – 25 tonne excess

Premium = 3.08 cents (2.81 cents + 0.27 cents stamp duty) therefore the GST component is 0.28 cent per tonne of cane

The Crop Insurance Levy for 2020 season is set at 3.36 cents per tonne cane being the premium, GST and stamp duty for cover of $30.00 per tonne cane with a 25 tonne excess

"Top-Up Fire Perils Crop Insurance" is available (upon application) up to $40 per tonne of cane.

 

 

 

 

 

 

 

 

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