The USDA announces sign up for more than 3 billion dollars in disaster aid.
The resources, through The Wildfire And Hurricane Indemnity Program, cover specific disasters in 2018 and 2019. To be eligible, producers must live in counties with a presidential emergency disaster declaration or a secretarial disaster designation. The disaster package also includes prevented plant acres.
Existing insurance will place a caveat on the level of coverage. The “whip plus” payment factor ranges from 75 percent to 95 percent of the expected value of the crop less the value of the crop harvest and any NAP payment received. Producers who did not insure their crops in 2018 or 2019 will receive 70 percent of the expected value less than the value of the crop harvested.
sign up begins September 11th.
