General Questions
Yes, you can participate in both programs and retain both benefits.
Livestock Risk Protection:
You must notify your crop insurance company as soon as you have knowledge of your livestock’s death. Typically, you have 72 hours; however, RMA is allowing your company to extend that timeline based on individual circumstances.
Yes, you can continue coverage on any livestock that were killed as long as you notify your crop insurance company once you have knowledge of the livestock’s death.
Livestock Gross Margin:
Yes, in the event of a loss the producer must submit a Marketings Report and sales receipts showing evidence of actual marketings. The producer must submit the Marketings Report within 15 days of receipt of Notice of Probable Loss.
LGM for Swine or Cattle covers the difference between the gross margin guarantee and the actual gross margin. LGM does not insure against death loss or any other loss or damage to the producer’s livestock.
Your crop insurance company will send you a notice of probable loss approximately ten days after actual gross margins for all months with target marketings are released by RMA. You must submit a marketing report within 60 days of your receipt of the notice of probable loss.
Any livestock death caused by Hurricanes Helene or Debby will count towards your 85% marketing requirement, or calculation of the market factor. This should help minimize the impact of the 85% requirement for those impacts by the hurricanes.
Dairy Revenue Protection:
No, this policy does not insure against the death or other loss or destruction of your dairy cattle, or against any other loss or damage of any kind.
You will still be paid indemnity up to the amount of premium owed. Your policy partially exempts you from the 85% marketing requirement when affected by a disaster like a hurricane. However, your loss is limited to the cost of your coverage.
Your crop insurance company will send you a notice of probable loss approximately ten days after actual gross margins for all months with target marketings are released by RMA. You must submit a marketing report within 60 days of your receipt of the notice of probable loss.