New Crop Insurance Innovations

New Crop Insurance Innovations

"Insuring Iowa's Agriculture" is focus of a workshop set for November 1 at Iowa State University. If you want to attend, reserve your spot now.

Are you interested in the latest innovations in crop insurance? A one-day workshop for crop insurance providers and users will be held Nov. 1, 2011 at the Scheman Building on the Iowa State University campus in Ames.

Iowa State University Extension economist William Edwards provides the following information regarding topics and speakers who will be on the program at this meeting.

The leadoff topic is the new data sharing procedure between the Risk Management Agency (RMA) and the USDA. Automatic acreage reporting and the use of satellite data for verifying crop insurance records will also be discussed. The presenter on this topic will be Seavey Anthony, chief analyst with RMA.

That presentation will be followed by an introduction to a new standardized hail insurance policy developed by the National Crop Insurance Services (NCIS). Michael Sieben, senior vice president of NCIS, will lead the discussion.

Weather trends and how crop insurance can adapt to them

In the afternoon Chris Anderson of the ISU Climate Science Program will talk about weather trends and how crop insurance can adapt to them. He will be followed by Chad Hart, ISU marketing specialist, discussing the economic outlook for grains for 2012.

To wrap up the afternoon session, Steve Johnson, ISU Extension farm management specialist, will show how revenue protection insurance and grain marketing tools can work together to increase profits and reduce risk.

The workshop has been approved for six hours of continuing education credit for crop insurance professionals. The registration fee is $100 before October 26 and $110 after that date. The workshop will also include lunch with one of the Cyclone coaches and displays from all the major crop insurance companies in Iowa.

Register now at www.cpm.iastate.edu/Upcoming or call 515-294-6222.

Updated information on Ag Decision Maker site

The following information files and tools have been added or updated on www.extension.iastate.edu/agdm

Deductible Livestock Costs for Adjusting 2011 Income Tax Returns – B1-15 (1 page)

Lease Supplement for Use in Obtaining Tile and Drainage Improvements between Owner (s) and Tenant (s) – C2-19 (3 pages)

Managing Farm Family Finances – C3-51 (4 pages)

SURE Payment Calculator (Supplemental Revenue Assistance) – Decision Tool

Comprehensive Financial Statements – Decision Tool

The following tools have been updated on www.extension.iastate.edu/agdm/info/outlook.html

Corn Profitability – A1-85

Soybean Profitability – A1-86

Returns for Farrow-to-Finish – B1-30

Returns for Weaned Pigs – B1-33

Returns for Steer Calves – B1-35

Returns for Yearling Steers – B1-35

Ethanol Profitability – D1-10

Biodiesel Profitability – D1-15

For farm management information and analysis, go to ISU's Ag Decision Maker site www.extension.iastate.edu/agdm and ISU Extension farm management specialist Steve Johnson's site www.extension.iastate.edu/polk/farmmanagement.htm.

TAGS: USDA Extension
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