RMA to Lower Crop Insurance Premiums for Soybeans, Corn

November 28, 2012 06:13 AM

Via a special arrangement with Informa Economics, Inc.

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Action follows changes to methodology

Crop insurance premiums for soybeans will fall by 9 percent and premiums for corn will be 7 percent lower following changes to the methodology USDA uses to set the rates.

USDA's Risk Management Agency said the the adjustments, to be phased in, are based on an outside review conducted by Sumaria Systems Inc. The new methodology will give more weight to county crop losses in recent years as opposed to the current approach that gives equal weight to losses in all years going back to 1975.

Link to RMA release.


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