USDA has updated crop insurance options in order to reach more swine, dairy and cattle producers through the Dairy Revenue Protection (DRP), Livestock Gross Margin (LGM), and Livestock Risk Protection (LRP) programs.
Among the changes, which go into effect July 1, dairy producers will now be able to continue coverage even if they experience a disaster, such as a barn fire, at their operation. Under the LGM program, cattle, dairy and swine coverage has been expanded to Alaska and Hawaii.
LRP has been expanded and is now available in all 50 states. Head limits have been increased for fed cattle and feeder cattle, from 6,000 head per endorsement and 12,000 per crop year to 12,000 per endorsement and 25,000 head per crop year. For swine, the head limits have gone up from 40,000 head per endorsement and 150,000 head per crop year, to 70,000 head per endorsement and 750,000 per year.
Also under LRP, insurance companies will have to pay indemnities within 30 days, rather than the previous 60 days, following the receipt of the claim form. In addition, “location reporting requirements have been relaxed to list only state and county, instead of the precise legal location,” the Risk Management Agency said.
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