On February 10, 2020, the Risk Management Agency (RMA) announced a new endorsement to the Common Crop Insurance Policy Basic Provisions (Basic Provisions) for both catastrophic risk protection (CAT) and additional coverage when provided in the actuarial documents called the Hurricane Insurance Protection – Wind Index Endorsement (Endorsement). https://www.rma.usda.gov/en/Fact-Sheets/National-Fact-Sheets/Hurricane-Insurance-Protection. RMA states that the Endorsement covers …
Crop Insurance News and Analysis – February 25, 2020 – Requests to Increase Prevented Planting Coverage Level
On February, 25, 2020, the Risk Management Agency (RMA) issued Product Management Bulletin: PM-20-013 related to requests to increase prevented planting coverage. https://www.rma.usda.gov/en/Policy-and-Procedure/Bulletins-and-Memos/2020/PM-20-013. RMA states that it has been receiving requests regarding what factors approved insurance providers (AIPs) should consider when determining whether a cause of loss is present that may prevent planting, which would …
Crop Insurance News and Analysis – February 20, 2020 – Prevented Planting on Added Land
On February 20, 2020, the Risk Management Agency (RMA) issued Managers Bulletin: MGR-20-003. related to prevented planting on added land. https://www.rma.usda.gov/en/Policy-and-Procedure/Bulletins-and-Memos/2020/MGR-20-003. RMA states it has received questions when prevented planting decisions should be made on added land. RMA quotes section 20(f)(12) of the Common Crop Insurance Policy Basic Provisions (Basic Provisions)., which states that prevented …
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Crop Insurance News and Analysis – February 19, 2020 – Nursery Value Select Pilot Program
On February 19-20, 2020, the Risk Management Agency (RMA) announced a new crop insurance program for nursery through a Product Management Bulletin: PM-20-10, press release, Nursery Value Select Crop Provisions, Frequently Asked Questions, and National Fact Sheet. https://www.rma.usda.gov/en/Policy-and-Procedure/Bulletins-and-Memos/2020/PM-20-010; https://www.rma.usda.gov/en/News-Room/Press/Press-Releases/2020-News/USDA-Offers-New-Crop-Insurance-Pilot-Program-for-Nursery-Crops-in-2021; https://www.rma.usda.gov/-/media/RMAweb/Policies/Nursery-Value-Select/Nursery-Value-Select-Crop-Provisions-21-1010.ashx; https://www.rma.usda.gov/en/News-Room/Frequently-Asked-Questions/Nursery-Value-Select; https://www.rma.usda.gov/en/Fact-Sheets/National-Fact-Sheets/Nursery-Value-Select. RMA states that the new Nursery Value Select Pilot Program will: 1) simplify …
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Crop Insurance News and Analysis – February 14, 2020 – Actuarial Rates from Breached Levees Missouri, Iowa, Kansas, Nebraska
On February 14, 2020, RMA issued a series of Informational Memorandum for Missouri, Iowa, Kansas and Nebraska involving the determination of actuarial rates as a result of breeched levees in those states. https://www.rma.usda.gov/-/media/RMAweb/Regional-Offices/Topeka-KS/Underwriting-Guidelines/Actuarial-Rates-Resulting-from-Breached-Levees-Nebraska-2-14-2020.ashx; https://www.rma.usda.gov/-/media/RMAweb/Regional-Offices/Topeka-KS/Underwriting-Guidelines/Actuarial-Rates-Resulting-from-Breached-Levees-Missouri-2-14-2020.ashx; https://www.rma.usda.gov/-/media/RMAweb/Regional-Offices/Topeka-KS/Underwriting-Guidelines/Actuarial-Rates-Resulting-from-Breached-Levees-Kansas-2-14-2020.ashx; https://www.rma.usda.gov/-/media/RMAweb/Regional-Offices/St-Paul-MN/Underwriting/Actuarial-Rates-Resulting-from-Breached-Levees-Iowa—2020.ashx. Each Informational Memorandum quotes the Breeched Levee Statement in the Special Provisions, which states that the premium rate is …
Crop Insurance News and Analysis – January 23, 2020 – Apple Tree Policy Revisions
On January 23, 2020, the Risk Management Agency (RMA) issued Product Management Bulletin: PM-20-006, announcing the approval of the Apple Tree Policy. https://www.rma.usda.gov/en/Policy-and-Procedure/Bulletins-and-Memos/2020/PM-20-006. In conjunction, RMA released the Apple Tree Crop Provisions, Apple Tree Endorsement, and the Apple Tree Fire Blight Endorsement. https://www.rma.usda.gov/-/media/RMAweb/Policies/Apple-Tree/Apple-Tree-Crop-Provisions-21-APT.ashx; https://www.rma.usda.gov/-/media/RMAweb/Policies/Apple-Tree/Apple-Tree-Crop-Provisions-21-APT/Apple-Tree-Endorsement-21-APT-A.ashx; https://www.rma.usda.gov/-/media/RMAweb/Policies/Apple-Tree/Apple-Tree-Crop-Provisions-21-APT/Apple-Tree-Fire-Blight-Endorsement-21-APT-B.ashx. ANALYSIS – Other than the policy documents, no information regarding …
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Crop Insurance News and Analysis – January 16, 2020 – Pecan Tree Policy Revisions
On January 16, 2020, the Risk Management Agency issued Product Management Bulletin: PM-20-005, the Pecan Tree Crop Provisions, and the Pecan Tree National Insurance Fact Sheet that referred to revisions made to the Pecan Tree Crop Provisions. https://www.rma.usda.gov/en/Policy-and-Procedure/Bulletins-and-Memos/2020/PM-20-005; https://www.rma.usda.gov/-/media/RMAweb/Policies/Pecan-Tree/2021/Pecan-Tree-Crop-Provisions-21-PCT.ashx; https://www.rma.usda.gov/en/Fact-Sheets/National-Fact-Sheets/Pecan-Tree-Insurance. RMA stated that the changes were effective for the 2021 and succeeding crop years. In …
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Crop Insurance News and Analysis – January 29, 2010 – Extension of Time to Obtain Samples
On January 29, 2020, the Risk Management Agency (RMA) issued Managers Bulletin: MGR-020-002 regarding the extension of time to obtain samples for the purposes of quality adjustment on unharvested acreage. https://www.rma.usda.gov/en/Policy-and-Procedure/Bulletins-and-Memos/2020/MGR-20-002. RMA states that the Special Provisions and the Loss Adjustment Manual (LAM) require approved insurance providers (AIPs) to collect samples for the purpose of …
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