PRODUCT MANAGEMENT BULLETIN: PM22-039




1400 Independence Avenue, SW
Stop 0801
Washington, DC  20250-0801

Date

June 27, 2022

To:

All Approved Insurance Providers
All Risk Management Agency Field Offices
All Other Interested Parties

From:

Richard H. Flournoy, Deputy Administrator /s/ Richard H. Flournoy    6/27/2022

Subject:

Grass Seed Changes Effective for the 2023 and Succeeding Crop Years
Background
The Risk Management Agency (RMA) revised the Grass Seed Crop Provisions to clarify how producers can use prices from their production contracts for crop insurance purposes. Specifically, if producers have multiple contracts with different prices, the clarifications illustrate how to calculate a weighted average price. RMA also increased the maximum contract price factor from 1.20 to 1.60 and moved the factor to the actuarial documents so that it can be updated more easily in the future.
Action

The Grass Seed Crop Provisions (23-0102) will be available by close of business today on the RMA website at www.rma.usda.gov.

Approved insurance providers must notify policyholders of these changes at least 30 days prior to the cancellation date, as required by the policy.

Interested producers should contact a crop insurance agent for further information. A list of agents can be found on the RMA website at www.rma.usda.gov/en/Information-Tools/Agent-Locator-Page.

 

DISPOSAL DATE:
December 31, 2023

USDA is an Equal Opportunity Employer and Provider