On September 25, 2020, the Risk Management Agency (RMA) issued an Informational Bulletin announcing that the Federal Crop Insurance Corporation Board of Directors approved the implementation of the Enhanced Coverage Option (ECO), under section 508(h) of the Federal Crop Insurance Act. RMA states that the ECO will be available for the 2021 crop year for select crops with a contract change date of November 30, 2020 or later. https://www.rma.usda.gov/Policy-and-Procedure/Bulletins-and-Memos/2020/OA-20-005. RMA stated that additional materials would be released over the next few weeks.
ANALYSIS – As of October 26, 2020, RMA has not issued any additional information so it is not clear what coverage would be provided by the Enhanced Coverage Option.
All statements made are opinions of the author and are not intended to provide legal opinions or legal advice.