ANNOUNCEMENTS

USDA/RMA Clam Pilot Crop Insurance Program
Helps Massachusetts Clam Growers Manage Risk

Federal crop insurance programs are an easy and effective way for Massachusetts clam growers to protect against unexpected losses caused by a range of unavoidable natural perils and/or market events. Congress considers crop insurance to be a major risk management tool and provides money to substantially subsidize the premiums paid by producers. Federal crop insurance programs are administered by the USDA’s Risk Management Agency (RMA).

Two Federal crop insurance products are available to help Massachusetts clam growers. First, RMA’s Cultivated Clam Pilot Crop Insurance Program is designed exclusively for clam producers and covers production losses under a dollar-type plan. The program offers coverage for all cultured clams 10mm and larger in size that meet insurability requirements as found on the RMA website (www.rma.usda.gov) or by contacting a crop insurance agent. The policy covers losses that occur because of decrease in salinity, disease, freeze, hurricane, ice floe, oxygen depletion, storm surge, and tidal wave.  The Sales Closing Date for this product is November 30, and the program is available to producers in Barnstable, Bristol, Dukes, Nantucket and Plymouth counties.

The second program, Adjusted Gross Revenue-Lite (AGR-Lite), provides whole-farm revenue protection and can work in conjunction the clam pilot program. AGR-Lite covers losses caused by a range of perils including weather, insects, disease, and unforeseen market conditions. 

Obtaining crop insurance is relatively easy.  Producers should first determine the amount of protection desired and then select the crop insurance product and coverage level that will best provide that protection.  Qualified and informed crop insurance agents are available to explain program requirements and product features. Agents can also assist producers in completing a crop insurance program application.

Most Federal crop insurance programs have strict calendar deadlines governing participation decisions and reporting requirements. In Massachusetts, the sales closing dates are November 30 for the pilot clam program and March 15 for AGR-Lite. For more detailed information about program availability and requirements, please contact your local crop insurance agent.

Custom Ag Solutions works with RMA to educate Massachusetts producers about Federal Crop Insurance Programs. To ask questions or receive additional information by mail, call Custom Ag Solutions at 877-227-8094. To locate a crop insurance agent or obtain information about risk management and Federal Crop Insurance Programs, you can also visit www.RMA.USDA.gov or www.MassAgRisk.com.

Crop Insurance for Massachusetts Aquaculture Producers

Over the past decade, aquaculture has solidified its position as a vital part of American agriculture.  Increasing consumer demand for high quality aquaculture products indicates a bright future for the Massachusetts aquaculture industry.  The United States Department of Agriculture and its Risk Management Agency (RMA) are very aware of the growing importance of the aquaculture industry, and RMA is working to provide programs and tools to help aquaculture producers manage risk.

RMA currently offers two crop insurance programs for Massachusetts aquaculture producers.  The first program was specifically developed for cultured clam producers, and the second program covers producers of all agriculture commodities including aquaculture species.  Crop insurance products are underwritten and regulated by RMA and sold through private companies and agents.  A complete listing of crop insurance agents can be obtained at local Farm Service Agency offices or online at www.rma.usda.gov.

RMA’s Cultivated Clam Pilot Crop Insurance Program offers coverage for all cultured clams 10mm and larger in size that meet all the other requirements for insurability.  The list of requirements for insurability can be found on the RMA website (www.rma.usda.gov) or by contacting a crop insurance agent.  The policy covers losses that occur because of decrease in salinity, disease, freeze, hurricane, ice floe, oxygen depletion, storm surge, and tidal wave.  The Sales Closing Date for this product is November 30, and the program is available to producers in Barnstable, Bristol, Dukes, Nantucket and Plymouth counties.

The Adjusted Gross Revenue-Lite (AGR-Lite) policy is a whole-farm revenue protection plan of insurance.  Most aquaculture species raised in a control environment are eligible for coverage under this policy.  To determine if your aquaculture species is covered under this policy, please contact a crop insurance agent.  AGR-Lite coverage is based on a producer’s five-year historical farm average revenue as reported on the Internal Revenue Service (IRS) Schedule F (or equivalent) form and annual farm report.  AGR-Lite provides insurance against loss of revenue due to any unavoidable natural occurrences during the current or previous crop year or due to market fluctuations that cause a loss of revenue during the current crop year.  AGR-Lite is available in all Massachusetts counties and has a Sales Closing Date of March 15, 2008.