Sept. 30 is the date that sales of many Federal fall crop insurance products for 2010 will end. This year Risk Management Agency Administrator Bill Murphy says this year's sales will be the first with new risk insurance simplifications including new combo regulations.
"Many of these crops had up to three or four different revenue programs available to them, which was always a big issue because they'd wait to try to find out which one would be potentially better for the year," Murphy said. "This drew out the decision making process and was frustrating for everyone. We've actually taken the best of all those revenue programs so growers will have one revenue option this year."
Murphy says other simplifications include an opt-out for the harvest price option for crop insurance and changes to methodology for revenue based insurance products as well as a few other minor adjustments.
With all these changes Murphy advises fall crop growers eligible for crop insurance to make sure to spend some extra time with their agents before that sales closing date, so they can make sure their coverage is at the levels that they want it. The sales closing date is this Thursday. Sept. 30.
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