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USDA seeks comments on rainfall index crop insurance

Comments should be submitted by Nov. 5; changes will be implemented for the 2022 crop year.

USDA's Risk Management Agency is seeking public comments on recommended improvements to the Pasture, Rangeland, Forage (PRF) Rainfall Index Crop Insurance Program. RMA contracted for an independent evaluation of the PRF program to determine its effectiveness as a risk management tool for livestock producers.

“We want to be sure that the recommendations RMA implements are good for the industry and good for livestock producers,” said RMA Administrator Martin Barbre. “We are always looking for feedback and making adjustments to ensure that our insurance products protect producers and help them manage their risk, including lack of rainfall, and protect the integrity of the program.”

In addition to the PRF program, the recommendations could be applied to other Rainfall Index programs such as Apiculture and Annual Forage, therefore RMA recommends that all interested parties submit comments by Nov. 5, 2020. RMA will review all comments and determine what recommendations should be implemented for the 2022 crop year.

The independent evaluation includes several recommendations, including:

  • Adjusting the County Base Value (CBV) productivity range;
  • Better targeting of indemnities;
  • Focusing PRF on viable forage production areas;
  • Focusing coverage on risk-reducing intervals;
  • Taking an alternative approach to reducing frequent shallow losses; and
  • Modifying the CBV.

Details on the recommendations are published in a report available on the RMA website for public review and comment. Comments can be submitted via email to rma.kcviri@usda.gov or by mail to Director, Product Administration and Standards Division, Risk Management Agency, United States Department of Agriculture, P.O. Box 419205, Kansas City, MO 64133-6205.

Source: USDA RMA, which is solely responsible for the information provided and is wholly owned by the source. Informa Business Media and all its subsidiaries are not responsible for any of the content contained in this information asset. 
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