University of Maryland Extension

New Beginning Producer Crop Insurance Benefits From 2014 Farm Bill

Paul Goeringer

Photo by Edwin Remsberg, MDA

            I have previously highlighted the beginning farmer benefits in the Non-Insured Crop Disaster Assistance Program (NAP); see 2014 Farm Bill Makes Changes to the Noninsured Crop Disaster Assistance Program.  But the 2014 Farm Bill also contains new beginning producer benefits for the crop insurance program as well.  These benefits range from exemption from certain administrative fees, 10 additional percentage points of premium subsidy, use of past production history (if certain conditions are met), and increased substitute Yield Adjustments if the beginning producer has an ownership/interest in the crops or livestock during the 5 year period.  Each will be discussed in more detail.

To continue reading this post, click over to the Maryland Risk Management Education Blog.

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