Stacked Income Protection Program

Background

The Risk Management Agency (RMA) issued bulletin MGR-20-006 on March 27, 2020, due to “stay at home” orders issued in response to the COVID-19 pandemic. MGR-20-006 authorized Approved Insurance Providers (AIPs) to accept production reports through the earlier of the acreage reporting date (ARD) or 30 calendar days after the applicable production reporting date (PRD) for 2019 and 2020 crop year policies insured under the Common Crop Insurance Policy, Basic Provisions (BP) with a PRD of March 15, 2020, or later.

Background

On November 15, 2019, the Federal Crop Insurance Corporation Board of Directors approved the Hurricane Insurance Protection – Wind Index (HIP-WI) Endorsement. It is available for the 2020 crop year for both Catastrophic (CAT) and additional coverage for Common Crop Insurance Policy Basic Provisions policies, when provided in the actuarial documents, in counties located in the vicinity of the Gulf of Mexico and the Atlantic Ocean, as well as Hawaii.

Background

The Agriculture Risk Protection (ARC) and Price Loss Coverage (PLC) programs administered by the Farm Service Agency (FSA) allow for annual enrollment. In accordance with the Federal Crop Insurance Act (Act), acreage enrolled in ARC or PLC cannot be covered under STAX and acreage with ARC elected cannot be covered under the Supplemental Coverage Option (SCO). In June of 2019 the Federal Crop Insurance Corporation (FCIC) released a revised SCO policy for the 2020 crop year containing provisions relating to acreage reporting when producers are participating in ARC or PLC.

Common Crop Insurance Policy & Area Risk Protection Insurance ^{1, 2}

The 2019 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, types, practices, sales closing dates and states indicated in the following table.

As of July 30, 2019 the following information is now available on the FTP site:

• 2018 Actuarial Data Master for the 8/31, 11/30, 12/31 Filing Date, YTD, and Daily Files.

Users can find this information in the following directories:

• 2018 Actuarial Data Master are in the References/Actuarial_Data_Master/2018 directory.

Additional notes and details regarding this data release:

In accordance with Section 10 of the SCO Endorsement and Section 9 of the STAX Cotton Crop Provisions, approved final area yields and final area revenues for 2018 crop year Cotton, Cotton Ex Long Staple, Safflower and CA Tomatoes will be available by close of business today in the following formats:

Background

The Agriculture Improvement Act of 2018 (2018 Farm Bill) allows producers to make an election of ARC or PLC for each Farm Number in 2019, which will cover the 2019 and 2020 crop years. Enrollment in ARC or PLC will occur after this election. Election or enrollment dates will not begin until after acreage reporting date for cotton producers.

Background

The STAX policy was developed at a time when producers could not enroll seed cotton in the Agriculture Risk Protection (ARC) and Price Loss Coverage (PLC) programs administered by the Farm Service Agency (FSA). In February of 2018, the Bipartisan Budget Act of 2018 was signed into law, which included provisions to allow producers of seed cotton to participate in ARC and PLC. In addition, the provisions included modifications to the Federal Crop Insurance Act (Act) stating that acreage enrolled in these programs would be ineligible for coverage under STAX.

As of November 27, 2018 the following information is now available on the FTP site:

• 2019 Actuarial Data Master for the 6/30, 11/30, 12/31 Filing Date, YTD, and Daily Files.
• 2019 Special Provisions for the 11/30 Filing Date.

Users can find this information in the following directories:

• 2019 Actuarial Data Master are in the References/Actuarial_Data_Master/2019 directory.
• 2019 Special Provisions are in the Special_Provisions/2019 directory.

Additional notes and details regarding this data release:

As of November 15, 2018 the following information is now available on the FTP site:

• 2019 Actuarial Data Master for the 11/30, 12/31 Filing Date, YTD, and Daily Files.
• 2019 Special Provisions for the 11/30, 12/31 Filing Date.

Users can find this information in the following directories:

• 2019 Actuarial Data Master are in the References/Actuarial_Data_Master/2019 directory.
• 2019 Special Provisions are in the Special_Provisions/2019 directory.

Additional notes and details regarding this data release: