John Shea, 202-690-0437
RMA RELEASES GRP-OYSTERS
WASHINGTON, Feb 27, 2009 - Risk Management Agency (RMA) today released the Group Risk Plan (GRP) for Oysters,
a privately owned 508(h) insurance program. The Federal Crop Insurance Corporation Board of Directors
approved the GRP-Oysters plan of insurance on Nov 20, 2008.
GRP-Oysters program is designed to provide
insurance protection comparable to other Federally reinsured group risk plans of insurance, and will
be available in select counties in Louisiana.
The GRP-Oysters features include:
- Only oysters harvested from private basins are insurable;
- Catastrophic coverage is available; and
- Production and price data are determined using Louisiana Department of Wildlife and Fisheries data.
Sales closing date for the GRP oysters program will be Apr 30, 2009.
For more information about GRP-Oysters, please see
the RMA Web site at: http://www.rma.usda.gov/policies/2009policy.html