Federal Crop Insurance Presented by the USDA Risk Management Agency - PowerPoint PPT Presentation

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

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.

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

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

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 www.rma.usda.gov/tools/a gent.html

Multi-Peril Crop Insurance For Canola and Mustard

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

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

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

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

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

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

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

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

Important Dates (Canola) ▪ Sales Closing: Dates – Fall and spring types………………………………………………………August 31 2017 – Spring types only……………………………………………………….…….March 15 2018 ▪ Acreage Report Date: – Spring types……………………………………………………………………….July 15, 2018 – Fall Insurance Period types……………………………………………………….......………Decembe r 15 2017 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.

Important Dates (Mustard) ▪ Sales Closing: Dates – All types…………………………………………………….……………………Mar ch 15, 2018 ▪ Acreage Report Date: – All types……………………………………………………………………………… July 15 2018 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.

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

RMA.USDA.GOV

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?

Regional USDA RMA Contact USDA/Risk Management Agency Spokane Regional Office 11707 E Sprague Ave., #201 Spokane Valley, WA 99206 Telephone: (509) 228-6320 Email: rsowa@rma.usda.gov Nick Gans nick.gans@rma.usda.gov Don Kaufman don.kaufman@rma.usda.gov