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IS-20-002: 2021 Standard Reinsurance Agreement (SRA) and 2021 Livestock Price Reinsurance Agreement (LPRA)

The Risk Management Agency (RMA) has released the 2021 Standard Reinsurance Agreement (SRA) and Appendices I, II, and IV, and the 2021 Livestock Price Reinsurance Agreement (LPRA) and Appendices I, II, and IV, which become effective July 1, 2020. The documents are located on the RMA website at: www.rma.usda.gov/policy-procedure/reinsurance-agreements.

PM-19-048: Whole-Farm Revenue Protection (WFRP) Pilot Plan of Insurance Modifications for the 2020 and Subsequent Policy Years

Background

The Agricultural Improvement Act of 2018 (Farm Bill) enacted on December 20, 2018, includes language in Section 11122 to improve effectiveness of WFRP. Per the Farm Bill, the Risk Management Agency (RMA) held several stakeholder meetings with agents, producers, and grower groups to solicit recommendations to increase flexibility and effectiveness of the program. As a result of these meetings, RMA presented several changes to the Federal Crop Insurance Corporation Board of Directors (FCIC Board).

PM-19-035: 2020 Appendix III - Standard Reinsurance Agreement and Livestock Price Reinsurance Agreement

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/Policy-and-Procedure/ under the Appendix III/M- 13 directory.

Modifications in the 2020 Appendix III include:

PM-19-033: Dual Participation in Livestock Gross Margin for Dairy and Dairy Margin Coverage

Background

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.

Actuarial Release 19-014

As of April 22, 2019 the following information is now available on the FTP site:

  • 2020 Actuarial Data Master for the 4/30 Filing Date, YTD, and Daily Files.
  • 2020 Special Provisions for the 4/30 Filing Date.

Users can find this information in the following directories:

  • 2020 Actuarial Data Master are in the References/Actuarial_Data_Master/2020 directory.
  • 2020 Special Provisions are in the Special_Provisions/2020 directory.

Additional notes and details regarding this data release:

PM-19-024: Expansion and Modifications to Head Limits for the Livestock Risk Protection for Feeder Cattle, Fed Cattle, and Swine plans of insurance

Background

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:

PM-19-023: Expansion and Modifications to Head Limits for the Livestock Gross Margin for Feeder Cattle, Dairy, and Swine plans of insurance

Background

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: