Which of the following may NOT be insured under a crop hail policy?

A crop hail policy is typically designed to provide insurance coverage specifically for losses related to hail damage to crops. In this context, the parties that can be insured under such a policy must have a direct interest in the crops being covered.

A bank or lending institution does not possess an insurable interest in the crop itself because their involvement is generally tied to loans made to the farmer rather than ownership of the crops. Their interest is more financial and is concerned with the ability to recover loans rather than with the physical crops, which means they are not eligible for coverage under a crop hail policy.

In contrast, a farmer is the primary insured party because they own and cultivate the crops. A crop insurance agent, while acting as a facilitator for insurance, may also directly handle policies on behalf of others but does not typically insure their own crops through a hail policy. Family members of the producer could also be included in coverage if they have a vested interest in the agricultural operation or the crops being produced.

Thus, the fact that a bank or lending institution does not have a direct stake in the physical crops leads to the conclusion that they are not eligible for coverage under a crop hail policy.