|Fall sign-up period initiates crop insurance changes|
Farmers who insure yield or revenue for fall-planted crops will be among the first to deal with changes that will affect all policies for crops produced in 2011.
The deadline for securing coverage of fall crops–primarily winter wheat–is on Thursday, Sept. 30, notes Rhonda Smith, vice president of insurance for Farm Credit Services of America (FCSAmerica).
The company serves farmers and ranchers in Iowa, Nebraska, South Dakota and Wyoming.
“There are a number of changes that will affect crop insurance coverage going forward,” said Smith.
“One of the more significant is that the old Crop Revenue Coverage and Revenue Assurance policies have been combined in a Revenue Protection policy. Also, what was Actual Production History (APH) coverage now for some crops is called the Yield Protection policy.”
Smith said that, for most crops, the method of setting prices is changing, too.
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