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RMA released the Multi-County Enterprise Unit Pilot Endorsement (19-MCEU) and its implementation procedures in Manager’s Bulletin MGR-18-017. The industry has requested clarification regarding unit structure correction when an insured does not qualify for MCEU or does not designate primary/secondary counties.
Section 11110 of the Agriculture Improvement Act of 2018 increased the Catastrophic Risk Protection (CAT) Endorsement administrative fee from $300 to $655 for each crop in the county.
The Federal Crop Insurance Act mandates that the Federal Crop Insurance Corporation (FCIC) offer a catastrophic risk protection plan to indemnify producers for decreases in yield due to natural causes of loss. It covers losses greater than 50 percent loss in yield, indemnified at 55 percent of the expected market price. FCIC generally subsidizes the entire premium amount.
Approved Insurance Providers (AIPs) are required to review eligible crop insurance contracts identified by the criteria in Appendix IV of the Standard Reinsurance Agreement or as otherwise specified by the Risk Management Agency (RMA). These include Actual Production History (APH) reviews. The Common Crop Insurance Policy Basic Provisions (BP) provides, in part, that if the insured does not have written verifiable records to support the information on the production report, the insured will receive an assigned yield in their APH.
The Agricultural Improvement Act of 2018 (Farm Bill) enacted on December 20, 2018, altered the definition of Beginning Farmer or Rancher (BFR) for the purposes of the Whole-Farm Revenue Protection (WFRP) plan of insurance.
The WFRP Pilot Policy currently defines a BFR as:
A farmer or rancher who has not actively operated and managed a farm or ranch with a bona fide insurable interest in a crop or livestock as an owner-operator, landlord, tenant, or sharecropper for more than 5 crop years.
As of March 06, 2019 the following information is now available on the FTP site:
Users can find this information in the following directories:
Additional notes and details regarding this data release:
In accordance with Section 8 of the Rainfall and Vegetation Index Plan Common Policy Basic Provisions, final grid indices and payment calculation factors have been determined and approved for the following:
By close of business today, final grid indices and payment calculation factors will be available in the Actuarial Information Browser and Actuarial Data Master in the following formats:
As of March 01, 2019 the following information is now available on the FTP site:
Users can find this information in the following directories:
Additional notes and details regarding this data release:
Dry Pea and Dry Bean Crop Provisions and Revenue Endorsement
The approved 2019 CY projected prices shown below are for the Yield Protection, Revenue Protection, and Revenue Protection with Harvest Price Exclusion plans of insurance. The approved 2019 CY volatility factors shown below are for the 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 indicated in the subsequent tables.
Common Crop Insurance Policy & Area Risk Protection Insurance 1
The ARH Sweet Cherry and Tart Cherry for Processing Pilot Crop Provisions establish an Annual Price to determine revenue to count for certain appraised or unsold marketable production. In accordance with the definition of Annual Price in Section 2.
