Inventory Calculations - Type 13

June 18, 2004

Exhibit 13 – 1

FCIC-Appendix III

Type 13 – Nursery Calculations
Edit Descriptions

XPS LIABILITY (excluding price and share)
XPS Liability = Value (Practice Value) * Coverage Level
(Field 42)
(Field 21)
(Field 23)
(Note 7)
(Note 7)

AMOUNT OF INSURANCE (Actual Liability)
Amount of Insurance (Actual Liability) = XPS (Liability) * Price Election Factor * Insured Share
(Field 26)
(Field 42)
(Field 24)
(Field 25)
(Note 7)

BASIC COVERAGE PRORATION FACTOR (NEW POLICY ONLY)
Proration Factor = Month in which 30th day after signature date falls
(Field 31)

PEAK ENDORSEMENT(Not Terminating in Sept)PRORATION FACTOR
Proration Factor = Commencement Month Factor - Factor for Month following Termination Month
(Field 31)

PEAK ENDORSEMENT (Terminating in Sept)PRORATION FACTOR
Proration Factor = Commencement Month Factor
(Field 31)

TOTAL PREMIUM
Total Premium
(Field 32)
(Note 7)

=

Amount of Insurance (Actual Liability) * Base Premium Rate *
(Field 26)
(Field 30)

Option Factor * Proration Factor
(Field 31)

PRODUCER PREMIUM
Subsidy = Total Premium * Subsidy Factor
(Field 33)
(Field 32)
(Note 8)
(Note 7)
(Note 7)
Producer Premium = Total Premium - Subsidy
(Field 38)
(Field 32)
(Field 33)
(Note 7)
(Note 7)
(Note 7)

FCIC-APPENDIX III

Page 1

RY 2005

June 18, 2004

Exhibit 13

FCIC-Appendix III

Type 13 – Cultivated Clam Calculations
Edit Description

INVENTORY VALUE
Value =
(Field 21)

Number of Clams
(Field 50)

* Survival Factor * (Price Per Clam * Price Factor for Type)
(Field 48)
(ADM Ref Max Price) * (Field 24)
(Round to 4 decimals)

AMOUNT OF INSURANCE/ LIABILITY
Amount of Insurance = Value * Coverage Level * Insured Share
(Field 26)
(Field 21)
(Field 23)
(Field 25)

LIABILITY
Liability = Amount of Insurance (Actual Liability)
(Field 26)

TOTAL PREMIUM
Total Premium
(Field 32)
(Note 7)

=

Amount of Insurance * Base Premium Rate * Option Factor * Proration Factor
(Field 26)
(Field 30)
(Field 31)

PRODUCER PREMIUM
Subsidy = Total Premium * Subsidy Factor
(Field 33)
(Field 32)
(Note 8)
(Note 7)
(Note 7)

Producer Premium = Total Premium - Subsidy
(Field 38)
(Field 32)
(Field 33)
(Note 7)
(Note 7)
(Note 7)

FCIC-APPENDIX III

Page 2

RY2005