On April 29, 2019, RMA announced modifications to the Rainfall Index Annual Forage plan of insurance. Beginning with the 2020 crop year, a dual use option was added to the policy that allows producers to purchase both an Annual Forage policy and a Small Grains policy for a crop that is both grazed and harvested. …
Crop Insurance News and Analysis – April 26, 2019
The Risk Management Agency (RMA) issued two Managers Bulletins, MGR-19-009 looking at the impact of North Carolina State disaster payments on Whole Farm Revenue Protection (WFRP) indemnities for 2018, and MGR-19-010, which deals with veteran farmer or rancher benefits. With respect to MGR-19-009, WFRP requires that certain payments that compensate for damage to insured commodities …
Crop Insurance News and Analysis – April 25, 2019
The Risk Management Agency (RMA) has issued Managers Bulletin MGR-19-008 addressing 2018 flood claims. RMA states that due to the flooding producers have lost production while in storage and that damage in storage is not covered under the Federal crop insurance program. However, RMA also states that it has procedures in place that allowed for …
Crop Insurance News and Analysis – April 24, 2019
The 2014 Farm Bill contained restrictions regarding the election of Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) and the Stacked Income Protection Plan (STAX). Producers who elect STAX are not eligible for the Supplemental Coverage Option SCO. In addition, STAX cannot cover any acreage on land that has been enrolled in ARC or …
Crop Insurance News and Analysis – April 22, 2019
The Risk Management Agency (RMA) issued a press release announcing the enhancements to the Dairy Revenue Protection (DRP), Livestock Risk Protection (LRP), and the Livestock Gross Margin (LGM) programs effective in July 1, 2019, which means the 2020 policy. RMA has removed the previous $20 million capacity limitation that applied to all livestock programs. The …
Crop Insurance News and Analysis – April 8, 2019
The Risk Management Agency (RMA) issued Final Agency Determination FAD-287, which interpreted section 21 of the Common Crop Insurance Policy Basic Provisions (Basic Provisions). The interpretation sought was regarding those provisions that allowed for the correction. Section 21(b)(3) discusses the knowing misreporting of information and requiring the replacement of yields determined to be incorrect and …