Federal Crop Insurance

Transcription

1 Federal Crop Insurance Presented by the USDA Risk Management Agency With Nick Gans

2 Disclaimer The purpose of the following material is to promote awareness of risk management concepts and to highlight USDA s risk management products, features, benefits and availability. This material does not change the content or the meaning of current policy provisions, filed actuarial documents or approved procedures.

3 Agenda Multi Peril Crop Insurance for Canola and Mustard Written Agreements Important Dates Cost Estimator Agent Locator

4 What is RMA The United States Department of Agriculture s (USDA) Risk Management Agency (RMA) was created in 1996 Serve America s agricultural producers by strengthening economic stability Responsible for increasing effectiveness and awareness Maintain public-private partnership with Approved Insurance Providers (AIP) Responsible for selling and servicing insurance policies Faster way to support agriculture after catastrophic weather even

5 Where to Buy Crop Insurance All crop insurance policies are available from private crop insurance agents. A list of crop insurance agents is available at any USDA service center or on the RMA website at gent.html

6 Multi-Peril Crop Insurance For Canola and Mustard

7 Canola Insurable in: Idaho - Bannock, Benewah, Bingham, Blaine, Bonner, Bonneville, Boundary, Caribou, Cassia, Clearwater, Fremont, Gooding, Idaho, Jefferson, Jerome, Kootenai, Latah, Lewis, Lincoln, Madison, Minidoka, Nez Perce, Oneida, Power, Teton, and Twin Falls counties.. Oregon Gilliam, Morrow, Sherman, Umatilla, Union, Wallowa, and Wasco counties. Washington - Adams, Asotin, Columbia, Douglas, Garfield, Klickitat, Lincoln, Okanogan, Pend Oreille, Spokane, Stevens, Walla Walla, and Whitman counties. Grant County, WA-currently under evaluation *Coverage may be available by written agreement in other counties. Submit requests to your crop insurance agent. Rates and transitional yields are established by county

8 Mustard Insurable in: Idaho - Bannock, Benewah, Bingham, Bonneville, Caribou, Cassia, Fremont, Idaho, Jefferson, Latah, Lewis, Nez Perce, and Power counties. Oregon Umatilla County Washington Asotin, Columbia, Garfield, Lincoln, Spokane, Walla Walla, and Whitman counties. *Coverage may be available by written agreement in other counties. Submit requests to your crop insurance agent. Rates and transitional yields are established by county

9 Oilseed Crops Insurance Availability Canola Okanogan Stevens Pend Oreille Boundary Bonner *Spring only: Blaine, Bonneville, Fremont, Jefferson, Madison, Teton Mustard/Canola Douglas Lincoln Spokane Kootenai Mustard/Canola/Flax Mustard/Canola/Safflower Adams Columbia Whitman Garfield Benewah Latah Nez Perce Lewis Clearwater Klickitat Walla Walla Asotin Sherman Gilliam Morrow Umatilla Wallowa Idaho Wasco Union Adams Washington Fremont Gooding Blaine Lincoln Jerome Minidoka Jefferson Madison Teton Bonneville Bingham Caribou Power Bannock Twin Falls Cassia Oneida Franklin

10 Written Agreements (WA) Talk with an agent Request goes from agent, to AIP underwriter, to RMA Regional office RMA Regional Office looks at request RMA evaluates each request individually No guarantee request will be approved

11 Written Agreements cont d Three years of growing crop or similar crop production Separate request for each producer and for each county which producer requests a change Only can accept requests for crops RMA insures For initial year, due by cancellation date Canola-8/31 Mustard-3/15 For renewal requests, due by sales closing date Canola-8/31 for fall types and 3/15 for spring types Mustard-3/15

12 Causes of Loss (Canola and Mustard) You are protected against the following: Adverse weather conditions; Earthquake; Failure of irrigation water supply, if caused by an insured peril that occurs during the insurance period; Fire, if caused by an insured peril during the insurance period Insects, but not due to insufficient or improper application of control measures Plant disease, but not damage due to insufficient or improper application of control measures; Volcanic eruption; or Wildlife. Harvest price decline, when revenue protection is in effect, a decline in the harvest price below the projected price Canola only

13 Small Grains and Oilseed Insurance Options Production Only Plans Yield and Revenue Plans Actual Production History (APH) Yield Protection (for crops with Revenue Protection) Revenue Protection Revenue Protection with Harvest Price Exclusion APH crops: Flax, Mustard, Safflower Yield Protection: Canola/Wheat, Barley, etc. Revenue Protection: Canola/Wheat, Barley, etc. CAT coverage: All

14 Special Provisions of Insurance for Canola/Mustard Both-Insurance will not attach to any acreage on which canola, mustard, or rapeseed were planted the preceding crop year Canola-For fall types, only insure irrigated and summerfallow Mustard-have to have contract for insurability Prices Canola-price is supplied by RMA Mustard-will use contract price

15 Important Dates (Canola) Sales Closing: Dates Fall and spring types August Spring types only..march Acreage Report Date: Spring types.july 15, 2018 Insurance Period Fall types... Decembe r For each crop year that the policy remains continuously in force, coverage begins on the day immediately following the end of the insurance period for the crop year before.

16 Important Dates (Mustard) Sales Closing: Dates All types. Mar ch 15, 2018 Acreage Report Date: All types July Insurance Period For each crop year that the policy remains continuously in force, coverage begins on the day immediately following the end of the insurance period for the crop year before.

17 Insurance Participation in Washington Washington Canola-54% Washington Mustard-86% Washington Wheat-89%

18 RMA.USDA.GOV

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26 Items to Remember Contact a Crop Insurance Agent. Go to rma.usda.gov for Cost Estimator and Agent Locator Under quick links Grant County Canola still in process Hybrid Canola Seed potential?

27 Regional USDA RMA Contact USDA/Risk Management Agency Spokane Regional Office E Sprague Ave., #201 Spokane Valley, WA Telephone: (509) rsowa@rma.usda.gov Nick Gans nick.gans@rma.usda.gov Don Kaufman don.kaufman@rma.usda.gov