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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:
The Federal Crop Insurance Corporation's Board of Directors (Board) approved revisions of the Dairy Revenue protection (DRP) plan of insurance on November 15, 2018. American Farm Bureau Insurance Services, Inc., owners of the DRP plan of insurance, requested the revisions.
The Board approved the following revisions:
Approved Insurance Providers (AIPs) are required to conduct reviews of eligible livestock price insurance contracts as described in Appendix IV of the LPRA. These reviews are intended to address suspected anomalies and program integrity concerns, or to assure that a company’s internal control processes are operational and effective. The required reviews include Data Mining Reviews, Individual Policy Reviews, Conflict of Interest Reviews, and $200,000 Indemnity Reviews.
As of March 28, 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 Board of Directors approved the Dairy Revenue Protection (DRP) Plan of Insurance on February 13, 2018. DRP is a privately developed product that was approved under section 508(h) of the Federal Crop Insurance Act.
