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The 2022 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-procedure/appendix-iiim-13-handbook-index under the Appendix III/M-13 directory.
Modifications in the 2022 Appendix III include the following crop insurance program changes:
Dry Pea and Dry Bean Crop Provisions and Revenue Endorsement
The Risk Management Agency (RMA) has received several questions about the Wildfire Hurricane Indemnity Program (WHIP) and Wildfire Hurricane Indemnity Program+ (WHIP+) administered by USDA’s Farm Service Agency (FSA). Specifically, RMA has been asked if Hurricane Insurance Protection-Wind Index (HIP-WI), Supplemental Coverage Option (SCO), Enhanced Coverage Option (ECO), Stacked Income Protection Plan (STAX), and Margin Protection Plan (MP) can be used to meet linkage requirements under WHIP and WHIP+.
Dry Pea and Dry Bean Crop Provisions and Revenue Endorsement1
The approved 2017 CY projected prices shown below are for the Yield Protection, Revenue Protection, and Revenue Protection with Harvest Price Exclusion plans of insurance. The approved 2017 CY volatility factors shown below are for the Revenue Protection and Revenue Protection with Harvest Price Exclusion plans of insurance. The projected prices and volatility factors are applicable for the states, crops, and types indicated in the subsequent tables.
Common Crop Insurance Policy & Area Risk Protection Insurance 1, 2
The Risk Management Agency (RMA) was asked whether WFRP provides coverage of preexisting causes of loss on a farm operation. As with most Federal Crop Insurance Corporation policies, the WFRP policy has a list of insured and uninsured causes of loss during the insurance period. The WFRP policy also has requirements for producers to identify any damage to annual and perennial commodities insured under WFRP.
Common Crop Insurance Policy & Area Risk Protection Insurance 1,2
The 2020 CY harvest prices shown below are approved for the following plans of insurance: Revenue Protection, Area Revenue Protection, Revenue Protection with Harvest Price Exclusion and Area Revenue Protection – Harvest Price Exclusion. The harvest prices are applicable for the crops, practices, sales closing dates and states indicated in the following table.
Common Crop Insurance Policy & Area Risk Protection Insurance 1
Due to changes in WFRP commodity lists for the 2017 crop year, some commodities may now have multiple commodity codes available, a primary commodity code, and separate commodity codes related to specific types or practices of the commodity. For example, actuarial documents may list the primary commodity code and separate commodity codes for specific types or practices, such as Fresh Market and Processing, or Irrigated, Nonirrigated, Summerfallow, and Continuous cropping.
The CEPP peanut factors necessary to establish the insured’s amount of protection under the peanut program for the 2017 CY are identified below. The factors are applied to the commodity prices for wheat, cotton, soybean oil, and soybean meal during the discovery period of February 1, 2017 to February 28, 2017. These factors apply only to states with a Sales Closing Date (SCD) of March 15, 2017. They are determined in accordance with the Peanut Price Methodology guidelines published.
