Emergency Procedures Announced to Streamline Crop Insurance Claims
USDA’s Risk Management Agency is authorizing emergency procedures as extreme drought conditions persist across the country. The agency is working with crop insurance companies to simplify the adjustment of losses and issue indemnity payments. “We recognize the distress experienced by farmers and ranchers because of drought,” said Richard Flournoy, acting administrator, RMA. “These emergency […]
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 […]
Producers to Receive Crop Insurance Premium Benefit for Cover Crops
Agricultural producers who have coverage under most crop insurance policies are eligible for a premium benefit from the U.S. Department of Agriculture (USDA) if they planted cover crops during this crop year. The Pandemic Cover Crop Program (PCCP), offered nationally by USDA’s Risk Management Agency (RMA), helps farmers maintain their cover crop systems, despite […]
Last Change for Crop Insurance
The final date to apply for crop insurance for spring crops, including dry beans, is March 15 for the 2021 crop year. Current policyholders who wish to make changes to their existing coverage also have until the March 15 sales closing date to do so. Producers are encouraged to visit their crop […]
Dry Bean Projected Prices Released for 2021 CY
USDA’s Risk Management Agency (RMA) has approved the 2021 Crop Year (CY) projected prices for Yield Protection, Revenue Protection and Revenue Protection with Harvest Price Exclusion plans of insurance. The projected prices and volatility factors are applicable for the states, crops and types. Projected Prices and Volatility Factors apply to Supplemental Coverage Option (SCO) and […]
New Crop Insurance Option for 2021
USDA’s Risk Management Agency (RMA) recently released a new crop insurance option for dry edible beans, along with 30 other crops. The New Enhanced Coverage Option (ECO) provides additional area-based coverage for a portion of underlying crop insurance policy deductible. A fact sheet on the ECO option is available here: Enhanced Coverage Option (ECO). An article […]
RMA Extends Deadlines, Defers Interest Accrual Date
The USDA Risk Management Agency is allowing crop insurance providers to extend deadlines for premium and administration fee payments. This allows the providers to defer interest accrual for these payments. “USDA recognizes farmers and ranchers have been severely affected by the COVID-19 Pandemic this year and to help ease the burden on these folks, […]
USDA Improves Crop Insurance Policies with New Options
The U.S. Department of Agriculture (USDA) today announced changes to several crop insurance policies improving options for producers, including introducing a new Quality Loss Option, a new unit structure assignment option for Enterprise Units (EU) and new procedures for Multi-County Enterprise Units (MCEU). Specifically: The new Quality Loss Option is in response to the […]
Crop Insurance Flexibilities Added
USDA’s Risk Management Agency is authorizing self-certification on replant inspections and waiving witness signatures in certain situations as part of a broader suite of flexibilities to support producers during the coronavirus pandemic. Specifically, Approved Insurance Providers may allow the use of self-certification replant inspections for certain crops with 100 gross acres (before considering share) […]
Crop Insurance Premiums Due Jan. 31
USDA’s Risk Management Agency is reminding farmers that crop insurance premiums are due January 31. Accrual of interest had been deferred for the 2019 crop year. If it’s not paid by then, the interest will attach on February 1, calculated from the date of the premium billing notice. The extended interest deferral built on other […]
