RMA provides subsidized insurance policies sold through private insurance companies to help aquaculture producers manage risk. Currently, RMA offers four insurance products for aquaculture producers.
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Shellfish (Oysters)
Shellfish Pilot Crop Insurance Program is a yield-based product for containerized oysters commercially produced for the half-shell market. The shellfish program provides coverage against four perils:
- Named storms (hurricanes and nor’easters)
- Excessive heat during a low tide event
- Freeze during a low tide event
- Low salinity caused by excessive rainfall
The program provides coverage for the expected production of oysters to be harvested in the current crop year. Coverage for immature oysters is not available at this time. Producers can elect to increase their insurable price above the published price election with verifiable sales records supporting a higher price election.
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- Shellfish Fact Sheet
- Shellfish FAQ
- Shellfish Crop Insurance PowerPoint – Interval I
- Shellfish Crop Insurance PowerPoint – Interval II
- Shellfish Crop Insurance PowerPoint – Interval III
Group Risk Plan (Oysters)
Group Risk Plan (GRP) for Oysters, available in Louisiana, provides coverage against widespread loss of wild-caught or seed-raised oyster production in a parish. It is primarily intended for use by producers whose oyster landings tend to follow the average parish oyster landings. GRP Oysters uses parish-level landing data as the basis for determining a loss.
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Cultivated Clams
The Cultivated Clam crop insurance program provides inventory based stock mortality insurance. Inventory records are submitted for insurable clams, and indemnities are paid for insured causes of loss that reduce the inventory value by more than the selected deductible. Inventory records of insurable stock must be submitted with the application, but inventory may be increased throughout the insurance period for additional premium.
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Whole-Farm Revenue Protection
Whole-Farm Revenue Protection (WFRP) is a crop insurance program for all commodities on the farm under one insurance policy.
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