USDA announces changes to hemp crop insurance
Today the USDA annouced the expansion of the pilot Multi-Peril Crop Insurance (MPCI) plan for hemp. Expansion and other changes to the plan will be effective in the 2021 crop year.
“We are pleased to expand the hemp program and make other improvements for hemp producers,” said USDA’s Risk Management Agency (RMA) Administrator Martin Barbre. “Hemp offers exciting economic opportunities for our nation’s farmers, and we are listening and responding to their risk management needs.”
Today’s announcement includes three major changes.
1. Expanding the hemp MPCI program
Four states – Arizona, Alaska, Nevada, and Texas – have been added to the program.
Thirteen new counties in states with existing coverage (Colorado, Kentucky, Michigan, Montana, New Mexico, Tennessee, and Virginia) have also been added.
2. Allowing broker contracts for hemp grain
Broker contracts for hemp grain will be allowed in the 2021 crop year.
3. Adjusting program, reporting, and billing dates
Sales closing, cancellation, production reporting, and termination deadlines have been adjusted to match dates of similar crops.
The acreage reporting dates have been changed based on regional final planting dates.
All states will have a premium billing date of August 15.
To see more about new dates and deadlines by county, use RMA’s Actuarial Information Browser.
For more information on USDA risk management programs for hemp producers, visit farmers.gov/hemp.
RMA is authorizing additional flexibilities due to the coronavirus pandemic while continuing to support producers, and working through Approved Insurance Providers (AIPs) to deliver services, including processing policies, claims, and agreements. RMA staff are working with AIPs and other customers by phone, mail, and electronically to continue supporting crop insurance coverage for producers. Farmers with crop insurance questions or needs should continue to contact their insurance agents about conducting business remotely (by telephone or email). More information can be found at farmers.gov/coronavirus.
Crop insurance is sold and delivered solely through private insurance agents. A list of insurance agents is available online using the RMA Agent Locator. Learn more about crop insurance and the modern farm safety net at rma.usda.gov.