INFORMATIONAL MEMORANDUM: R&D-99-027
TO: All Reinsured Companies All Risk Management Field Offices FROM: Tim B. Witt /s/ Tim B. Witt Deputy Administrator SUBJECT: Crop Revenue Coverage (CRC) Wheat Documents Are Now Available on the Reporting Organization (RO) Server for the 2000 Crop Year
The Risk Management Agency (RMA) has placed on the Reporting Organization (RO) Server, the CRC Commodity Exchange Endorsement - Wheat, CRC Winter Wheat Coverage Endorsement, 2000 Wheat CRC Underwriting Rules, 2000 Wheat CRC Question and Answer Set, and CRC Premium Calculation Worksheet. Each will be effective for the 2000 crop year.
The CRC Commodity Exchange Endorsement - Wheat, 2000 Wheat CRC Underwriting Rules, and 2000 Wheat CRC Question and Answer Set have been revised to clarify: 1) the addition of a $1 cap to the durum wheat base price basis premium for Arizona and California, and 2) offer producers 100 percent of the average daily settlement price rather than a choice of 95 or 100 percent. The CRC Winter Wheat Coverage Endorsement has been reformatted for consistency with the MPCI Wheat Crop Insurance Winter Coverage Endorsement. The CRC Premium Calculation Worksheet has been revised and will be the only worksheet to calculate the estimated producer premium. The 2000 Wheat CRC Underwriting Rules and 2000 Wheat CRC Question and Answer Set have also been revised to explain how the premium calculation worksheet is to be used when a high risk land rate is provided by a written agreement. Please refer to each of the documents for more complete information. The documents are available on the RMA WebSite at: http://www.rma.usda.gov/policies/.
If you have any questions, please contact David Clauser, Product Development Division at (816) 926-7730.
This informational memorandum is for the purpose of transmitting/updating information and the expiration date is December 31, 1999.