https://northarvestbean.org/wp-content/uploads/2021/07/taxes_farm_business-scaled.jpg 2560 1920 Red River Farm Network https://northarvestbean.org/wp-content/uploads/northarvest-bean-logo.png Red River Farm Network2021-07-12 16:04:272021-07-23 15:45:49RMA Strengthens Dry Bean Insurance Policy
RMA Strengthens Dry Bean Insurance Policy
USDA is making improvements to crop insurance to better enable agricultural producers to manage risk on their operations. Specifically, USDA’s Risk Management Agency (RMA) is adding new options for producers of dry beans.
Beginning in 2022, the Dry Beans and Dry Peas regulation will:
- Allow enterprise and optional units by type for dry beans and dry peas, preventing a gain on one type of crop from impacting an indemnity for a loss on another type. Enterprise units by type allow a producer to insure all acres of a type in a county as one unit, as opposed to basic and optional units which may base insurance on a portion of the acreage. Enterprise units are attractive to producers due to additional premium discounts provided given risk is diversified across the county.
- Also, allow enterprise and optional units for dry beans to be insured by written agreement, which is consistent with current provisions for dry peas.
- Clarify that if no insurable fall planted acreage exists, the later spring sales closing date would apply in counties that have offers for both the fall and spring-planted types.
Crop insurance is sold and delivered solely through private crop insurance agents. A list of crop insurance agents is available at all USDA Service Centers and online at the RMA Agent Locator. Learn more about crop insurance and the modern farm safety net at rma.usda.gov.