Farmers Reminded of Upcoming Multi-Peril Crop Insurance Program Date

SPOKANE, Wash., February 19, 2013 ----- USDA’s Risk Management Agency (RMA) reminds Pacific Northwest corn producers of the several options they have available through Multiple Peril Crop Insurance (MPCI).   

“During these winter months is the best time to plan for spring-time planting and we want to remind all Pacific Northwest farmers of the Friday, March 15 sales closing deadline for their 2013 seeded spring crops,” said RMA’s Spokane Regional Office Director Dave Paul.  

“MPCI policies for many spring crops were transformed and improved in 2011. The changes simplified the application process and gave choices of yield and revenue protection for producers insuring corn, canola/rapeseed, feed barley, malting barley, and certain types of dry peas and lentils. The participation response for barley and wheat has been very positive,” said RMA’s Spokane Regional Office Director Dave Paul. “However, participation in the corn MPCI has continued to remain stagnant.” 

MPCI programs in Idaho, Oregon, and Washington: 

CROP	2010 Acres Insured	Percent of Total Insured Acres to Total Acres Planted	2012 Acres Insured	Percent of Total Insured Acres to Total Acres Planted
Barley	382,133	62%	564,067	68%
Corn	174,466	29%	196,844	31%
Wheat	3,769,112	81%	3,689,785	84%

The corn policy insures all of a producer’s field corn planted for harvest as grain or silage. Under the simplified program, one policy for each crop provides the choice of three plans:
·         Yield Protection: Insurance coverage only providing protection against a production loss.

 ·         Revenue Protection: Insurance coverage providing protection against loss of revenue due to a production loss; price decline or increase; or a combination of both. 

·         Revenue Protection with Harvest Price Exclusion: Insurance coverage providing protection only against loss of revenue due to a production loss, price decline, or a combination of both.
 

Both the revenue and yield protection plans use market exchanges to develop the projected price used to establish the insurance guarantee and premium for the crop and the harvest price used to value production to count under the Revenue Protection Plan. RMA’s Prices Discovery Web site is: http://www.rma.usda.gov/tools/pricediscovery.html

Producers are encouraged to work closely with their crop insurance agent and review the choices available for coverage level, unit division, and insurance plan that best fits their farming operation. Producers may find a significant difference in premium costs between unit and insurance plan choices.

Current policyholders and uninsured growers must make all of their decisions on crop insurance coverage before the sales closing date.  If there is no coverage in a county for a specific crop under the traditional MPCI program; producers may ask a crop insurance agent whether they would be eligible for coverage under a written agreement.

Producers are encouraged to visit with their crop insurance agent to learn specific details for the 2013 crop year. Federal crop insurance policies are sold and delivered solely through private insurance companies and agents. A list of crop insurance agents is available at all USDA Service Centers in the United States or on RMA’s web site at http://www3.rma.usda.gov/tools/agents/.

#

USDA is an equal opportunity provider and employer. To file a complaint of discrimination, complete, sign and mail a program discrimination complaint form, (available at any USDA office location or online at www.ascr.usda.gov), to: United State Department of Agriculture, Office of the Assistant Secretary for Civil Rights, 1400 Independence Ave., SW, Washington, DC 20250-9410, or call toll free at (866) 632-9992 to obtain additional information, the appropriate office or to request documents. If you are deaf, hard of hearing or have speech disabilities, contact USDA through the Federal Relay service at (800) 877-8339 or (800) 845-6136.

Jo Lynne, Spokane RMA 

Jo Lynne Seufer, Risk Management Specialist
USDA/Risk Management Agency
Spokane Regional Office
(Serving Alaska, Idaho, Oregon, Washington)
11707 East Sprague Ave, #201
Spokane, WA 99206
(509)228-6320 Office
800-205-9953 (in AK, ID, OR, WA) Toll Free
(509)998-6902 Gov't Cell
(509)228-6321 Fax
jo.lynne.seufer@rma.usda.gov
www.rma.usda.gov