Wednesday, March 21, 2012

‘Whole-farm’ insurance tool on USDA blog site

AGR-Lite Wizard, a free online tool that can helps diversified crop and livestock producers gauge whether whole-farm insurance protection makes sense for their operations, is featured on the U.S. Department of Agriculture’s “USDA Blog.”

The National Center for Appropriate Technology (NCAT) and Montana Tech of the University of Montana developed AGR-Lite Wizard in a partnership funded by the USDA Risk Management Agency (RMA). Jeff Schahczenski, an agricultural economist with NCAT, was the lead developer of the project.

AGR-Lite is a whole-farm revenue protection insurance package that is federally subsidized and available through private insurance agents in 38 states. Among other features, it uses a producer’s 5-year IRS farm income information and an annual farm report as a base for providing a level of guaranteed revenue during the insurance period. AGR-Lite Wizard lets producers estimate what the premium costs would be for their operations, consider various future loss scenarios, and print reports to help them evaluate their insurance options.

The “USDA Blog” post concerning AGR-Lite Wizard is available at http://blogs.usda.gov/2012/03/08/new-online-revenue-protection-tool-from-the-risk-management-agency/

AGR-Lite Wizard is available online at www.agrilitewizard.com, and free copies on compact disc are available by calling NCAT at 406-494-4572 or emailing Jeff at jeffs@ncat.org.

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Since 1976, the National Center for Appropriate Technology (NCAT) has been helping people by championing small-scale, local and sustainable solutions to reduce poverty, promote healthy communities and protect natural resources. In partnership with businesses, organizations, individuals and agricultural producers, NCAT is working to advance solutions that will ensure the next generation inherits a world that has clean air and water, energy production that is efficient and renewable, and healthy foods grown with sustainable practices. More information about its programs and services is available at www.ncat.org or by calling 1-800-ASK-NCAT.

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