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Company expands livestock, PRF insurance programs
Rain and Hail, LLC, Johnston, Iowa, has expanded its livestock and other insurance programs. The pasture, rangeland and forage risk management tool insures against widespread loss of production of the insured crop in a designated area called a grid. Coverage is based on the experience of a grid rather than individual farms. Coverage under both programs is available for two crop types: Grazing land and hay land. Losses are paid when the grid's accumulated index, the Final Grid Index, falls below the insured's Trigger Grid Index. Expansion within the following states has been approved by the FCIC board for the 2008 crop year: All counties in Colorado, South Dakota, North Dakota, Oklahoma, and Texas. New states for the expansion are Montana, and Wyoming. The sales closing date and acreage reporting date is November 30. The Federal Crop Insurance Corporation's Board of Directors directed the Risk Management Agency in January of 2007 to make revisions to the Livestock Risk Protection plan of insurance. Additionally, the LRP program was expanded to additional states in April 2007 to begin sales on July 1, 2007, for the 2008 crop year. Expansion states for LRP include Arkansas and New Mexico. Fed Cattle, Feeder Cattle, and Swine are now available in these states, in addition to the previous states of Colorado, Iowa, Illinois, Indiana, Kansas, Minnesota, Missouri, Montana, North Dakota, Nebraska, Oklahoma, South Dakota, Texas, and Wyoming. Changes to the LRP policy include the addition of a 100 percent coverage level, revision of the price adjustment factor for predominately dairy cattle under 600 pounds, and removal of the prohibition regarding off-setting transactions created by a policyholder assuming a position on the Board of Trade. Livestock Gross Margin Cattle and Swine programs have also been expanded to include the following states: Colorado, Illinois, Indiana, Kansas, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oklahoma, South Dakota, Texas, and Wyoming. Producers interested in LRP or LGM coverage should contact an insurance agent who sells livestock insurance and complete an application. A reminder to all that the fall seeded sales closing date is September 30. For more information call 800-776-4045, or visit www.RainHail.com. A 15 7/16/07 None Date: 7/13/07
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