PRODUCT MANAGEMENT BULLETIN: PM–20-010
United States Department of Agriculture
Farm and Foreign Agricultural Services
Risk Management Agency
1400 Independence Avenue, SW
Washington, DC 20250-0801
All Risk Management Agency Field Offices
All Other Interested Parties
On November 15, 2019, Nursery Value Select (NVS) was approved for implementation by the Federal Crop Insurance Corporation Board of Directors. The Risk Management Agency (RMA) developed NVS to make nursery crop insurance more attractive and effective for producers nationwide, along with incorporating feedback from stakeholders on the current program’s shortcomings. This new pilot will provide producers with another risk management option that is more customizable to their specific insurance needs with less paperwork and fewer restrictions.
NVS will be available in select counties in Alabama, Colorado, Florida, Michigan, New Jersey, Oregon, Tennessee, Texas, and Washington beginning with the 2021 crop year.
The following documents will be available by close of business today on the RMA website at www.rma.usda.gov:
- NVS Crop Provisions (21-1010)
- NVS Insurance Standards Handbook (FCIC 24070)
- NVS Loss Adjustment Standards Handbook (FCIC 25760)
- NVS Fact Sheet
- NVS Frequently Asked Questions
The 2021 crop year sales closing date in Alabama, Florida, New Jersey, and Texas is May 1, 2020. The 2021 crop year sales closing date in all other pilot states is September 1, 2020. Interested producers should contact a crop insurance agent for further information. A list of agents can be found on the RMA website at www.rma.usda.gov/en/Information-Tools/Agent-Locator-Page.
December 31, 2020