Risk Management Insurance

 A USDA revised crop insurance plan. The U.S. Department of Agriculture's Risk Management Agency recently announced that the Federal Crop Insurance Corporation's board had approved revisions to several programs for Idaho producers next year. The program is designed to give forage and livestock producers the ability to buy insurance protection  for losses of forage produced for grazing.

 Specific features of the revised plans of insurance include:

 A Rainfall Index insurance plan has been replaced by the Vegetation Index insurance plan for pasture, rangeland, forage and apiculture. The innovative pilot programs are based on vegetation greenness indices. Here to explain part of the programs is Western Regional USDA Risk Management Director David Paul. “Basically it’s a measure of the greenness of the plant and if you get into a real dryspell, and those plants aren’t producing like they would normally, that’ll measure that and create an index and if that index is lower than the trigger index, it’ll trigger a payment for the grower.”

 The crop year will begin on Jan. 1 and end Dec. 31 for Vegetation Index insurance plans.