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 […]
Select Counties Can Hay/Grazing Cover Crops Early
USDA’s Risk Management Agency is opening up haying and grazing of cover crops on prevent plant acres to September 1 for 42 counties in the Dakotas. This response follows letters sent from North Dakota farm groups, noting the backlog in livestock numbers due to the COVID-19 pandemic and large amount of PP acres in the […]
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, […]
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 […]
RMA to Defer Interest on Crop Insurance Premiums
To help farmers hurt by the extreme weather, USDA’s Risk Management Agency will defer the accrual of interest on 2019 crop insurance premiums until the end of January. USDA Under Secretary Bill Northey made that announcement at the National Association of Farm Broadcasting convention. The Agriculture Department had previously announced a deferral until November 20 […]
Prevent Plant ‘Top Up’ Payments to be Paid in October
Farmers who filed a prevent plant claim will automatically receive a ‘top-up’ payment. A ten percent payment will be made to farmers with Yield Protection and Revenue Protection with the Harvest Price Option. Those with Revenue Protection will receive 15 percent. “This has been such a tremendously tough year for producers and frankly, insurance guarantees […]
Crop Insurance Interest Accrual Deferred
USDA’s Risk Management Agency will defer accrual of interest for all farmer’s spring 2019 crop year premiums, due to the extreme weather conditions, for two months or until November 30. That’s for all policies with a premium billing date of August 15. According to the USDA, any premium not paid by one of these new […]
