SPOKANE, Wash., August 23, 2012 -- USDA’s Risk Management Agency (RMA) announced approval of the voluntary waiver of Livestock Risk Protection (LRP) Basic Provisions 30-day ownership requirement due to severe drought.
Approved Insurance Providers (at their sole discretion) may waive the 30-day ownership requirement for LRP Specific Coverage Endorsement (SCE) policies. Possible eligibility for the waiver would apply to policies purchased August 2, 2011 through August 16, 2012, subject to verification of proof of ownership.
The waiver does not affect actuarial performance of the LRP policy and permits producers to market their livestock as necessary while the policy continues in force.
USDA encouraged producers to visit their livestock insurance agent to learn details specific to their LRP policy. Federal livestock insurance program policies are sold and delivered solely through private livestock insurance companies and agents.
A list of livestock insurance agents is available at all USDA Service Centers throughout the United States or on the RMA website.
For more news, go to www.agri-pulse.com