Livestock

Background

The Federal Crop Insurance Corporation's Board of Directors (Board) approved revisions to the Dairy Revenue Protection (DRP) plan of insurance, under section 508(h) of the Federal Crop Insurance Act, on November 20, 2020. The Board also approved revisions to the Livestock Gross Margin (LGM) plans of insurance, under section 508(h) of the Federal Crop Insurance Act, on June 23, 2020. The following revisions are applicable for the 2022 and succeeding crop years:

Dairy Revenue Protection changes include:

As of April 01, 2021 the following information is now available on the FTP site:

• 2022 Actuarial Data Master for the 4/30 Filing Date, YTD, and Daily Files.
• 2022 Special Provisions for the 4/30 Filing Date.

Users can find this information in the following directories:

• 2022 Actuarial Data Master are in the References/Actuarial_Data_Master/2022 directory.
• 2022 Special Provisions are in the Special_Provisions/2022 directory.

Additional notes and details regarding this data release:

The Risk Management Agency (RMA) has released the 2022 Standard Reinsurance Agreement (SRA) and Appendices I, II, and IV, and the 2022 Livestock Price Reinsurance Agreement (LPRA) and Appendices I, II, and IV, which become effective July 1, 2021. The documents are located on the RMA website at: www.rma.usda.gov/policy-procedure/reinsurance-agreements. As stated in COM 20-009, the Enhanced Coverage Option (ECO) has been added to the Appendix IV Review Matrix, there are no other changes from the prior year.

Background

The Federal Crop Insurance Corporation's Board of Directors (Board) approved revisions to the Livestock Risk Protection (LRP) plan of insurance for Feeder Cattle, Fed Cattle, and Swine, under section 508(h) of the Federal Crop Insurance Act, on August 20, 2020. These modifications were previously announced in PM-20-064.

The following revisions are applicable for the 2021 and succeeding crop years effective beginning January 20, 2021:

Background

In March 2020, the Risk Management Agency (RMA) began issuing Manager’s Bulletins to provide program flexibilities in response to COVID-19. These RMA-issued COVID-19 flexibilities can be found on the web at www.rma.usda.gov/coronavirus-resources.

Background

Appendix IV, section III(b)(3)(A) of the Standard Reinsurance Agreement (SRA) and the Livestock Price Reinsurance Agreement (LPRA) requires Approved Insurance Providers (AIPs) to conduct Conflict of Interest (COI) reviews. In accordance with the Guidance for Updating the SRA Appendix IV Review Matrix, AIPs are to conduct COI reviews on ECICs provided by FCIC on the COI report in AIP HyDRA. Livestock price insurance contracts will be included in the Fall 2020 COI list, but will be removed from the Spring 2021 COI list.

Background

The Risk Management Agency (RMA) has revised the Livestock Risk Protection and Livestock Gross Margin-Cattle, Dairy, and Swine Basic Provisions to incorporate changes made in the 2014 Farm Bill Final Rule published in the Federal Register on June 30, 2016. Additionally, these Basic Provisions have been revised to incorporate changes previously made in the Ineligibility Amendment.

The new provisions are effective for the 2018 and succeeding crop years.