What is an essential aspect for a crop-hail policy to be valid?

For a crop-hail policy to be valid, it is essential that it is signed by both parties. This signature serves as a confirmation of agreement to the terms and conditions laid out in the policy. It establishes a legal contract between the insurer and the insured, thereby ensuring that both parties are acknowledged and that their obligations under the policy are clear and enforceable.

While other elements, such as filing requirements or underwriting approval, are important in the broader context of insurance practices, they do not directly affect the validity of the policy itself in the same way that the mutual consent represented by signatures does. The signature is a fundamental step in creating a binding agreement, thus making it a crucial aspect for the policy to be legally recognized and enforceable.