All Risk Management Agency Field Offices
All Other Interested Parties
The Federal Crop Insurance Corporation Board of Directors approved a number of program changes to the LRP-Lamb plan of insurance including: 1. A new price prediction model; 2. A revised definition of “Insured Lambs”; 3. Removal of the 20-week endorsement; 4. Added language to prevent assignment of indemnities to businesses buying, selling, marketing, or packing lambs; 5. Changes to the daily and annual sales limit; and 6. Modifications to how the actual ending values are calculated. LRP-Lamb is targeted to have sales resume in May 2015. Producers interested in purchasing an LRP-Lamb Specific Coverage Endorsement must contact a crop insurance agent and complete an application that will be submitted through an Approved Insurance Provider (AIP). A list of crop insurance agents authorized by AIPs to write livestock insurance is on the Risk Management Agency RMA website.
The following 2015 reinsurance year LRP-Lamb materials containing program changes will be available, by close of business today, on the RMA website from the Livestock page at: http://www.rma.usda.gov/livestock/
Material • LRP-Lamb Specific Coverage Endorsement (SCE) (2015 LRP-Lamb) • Underwriting Rules (2015 LRP-Lamb Underwriting Rule) • LRP-Lamb FAQ • LRP-Lamb Special Provisions • LRP Lamb Fact Sheet
DISPOSAL DATE: This Informational Memorandum is for the purpose of transmitting information and its disposal date is December 31, 2015.