Date
To
All Approved Insurance Providers
All Risk Management Agency Field Offices
All Other Interested Parties
All Risk Management Agency Field Offices
All Other Interested Parties
From
Richard H. Flournoy, Deputy Administrator
Subject
Dairy Revenue Protection Revisions
The Federal Crop Insurance Corporation's Board of Directors (Board) approved revisions of the Dairy Revenue protection (DRP) plan of insurance on November 15, 2018. American Farm Bureau Insurance Services, Inc., owners of the DRP plan of insurance, requested the revisions.
The Board approved the following revisions:
- Coverage Level Adjustments - Removed the 70 and 75 percent coverage levels
- Modified the minimum declared butterfat from 3.50 to 3.25 making the range 3.25 – 5.00 pounds
- Modify the minimum declared protein from 3.00 to 2.75 making the range 2.75 – 4.00 pounds
- Remove the declared butterfat test to declared protein test ratio
- Extended the cutoff time for RMA to publishes the daily offers from 4:00 to 4:30
The following 2020 reinsurance year DRP materials will be available by close of business and may be accessed on the RMA website via the Livestock page at: /en/Topics/Livestock
- 2020 DRP Policy
- 2020 DRP Commodity Exchange Endorsement
- 2020 DRP Insurance Standards Handbook
If you have any questions, please contact Cody Lovercamp or Michael Ciliege, Product Administration and Standards Division at (816) 926-7387.
DISPOSAL DATE: December 31, 2020