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The Risk Management Agency (RMA) has released the 2016 Standard Reinsurance Agreement (SRA) and Appendices I, II, and IV, and the 2016 Livestock Price Reinsurance Agreement (LPRA) and Appendices I, II, and IV, which become effective July 1, 2015. The documents are located on the RMA website at: http://www.rma.usda.gov/pubs/ra/ . The draft Appendix III that provides standards, procedure and instructions for reporting data to RMA will be issued by May 10, 2015.
The Risk Management Agency (RMA) has released the 2015 Standard Reinsurance Agreement (SRA) and Appendices I, II, and IV, and the 2015 Livestock Price Reinsurance Agreement (LPRA) and Appendices I, II, and IV, which become effective July 1, 2014. The documents are located on the RMA website at: www.rma.usda.gov/pubs/ra/. The draft Appendix III that provides standards, procedure and instructions for reporting data to RMA will be issued by May 10, 2014.
The 2020 Appendix III to the Standard Reinsurance Agreement and the Livestock Price Reinsurance Agreement (Appendix III) has been updated with approved modifications. Appendix III is available electronically via the Risk Management Agency (RMA) website at www.rma.usda.gov/en/Policy-and-Procedure/ under the Appendix III/M- 13 directory.
Modifications in the 2020 Appendix III include:
The Dairy Margin Coverage (DMC) program, administered by the Farm Service Agency (FSA), and the Livestock Gross Margin for Dairy policy (LGM-Dairy), administered by the Risk Management Agency (RMA), offer similar risk management protection for dairy producers. On December 20, 2018, the Agriculture Improvement Act of 2018 was signed into law, allowing producers to participate in both programs.
Producers interested in purchasing coverage should contact a crop insurance agent to sign up for LGM-Dairy. A list of agents can be found on the RMA website: www.rma.usda.gov/.
The Federal Crop Insurance Corporation Board of Directors approved a number of program changes to the LRP-Lamb plan of insurance including: 1. A revised price prediction model;
2. 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.
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.
As of April 22, 2019 the following information is now available on the FTP site:
Users can find this information in the following directories:
Additional notes and details regarding this data release:
The Federal Crop Insurance Corporation's (FCIC) Board of Directors (Board) approved revisions of the Livestock Risk Protection for Feeder Cattle, Fed Cattle, and Swine plans of insurance on May 24, 2018. The revisions were requested by Applied Analytics Group, the owners of the LRP plans of insurance. The Board approved the following revisions for the 2020 crop year starting July 1st:
Adjustment to Price Adjustment Factor for LRP Feeder Cattle: Modify the Price Adjustment Factor for Predominately Dairy to 50% for both weight ranges.
The Federal Crop Insurance Corporation's (FCIC) Board of Directors (Board) approved revisions of the Livestock Gross Margin (LGM) for Cattle, Dairy Cattle, and Swine plans of insurance on March 27, 2019, submitted under Section 523(b) of the Federal Crop Insurance Act.
The revisions include removing the following program limitations for the 2020 crop year starting July 1, 2019:
