What is in this article?:
- SCO options coming soon according to USDA
- More options available
Progress is being made in developing the final rules for crop insurance coverage options for farmers and ranchers.
While developing and adopting a new farm bill was a hurry up and wait ordeal most of us are not likely to forget, now that new farm legislation has been signed into law, most farmers find themselves trapped once again in a waiting game as federal agencies struggle to write the rules and regulations on how the many programs of the bill are going to work.
But good things come to those that wait. That's the message USDA is sending out this month after an announcement last week from Agriculture Secretary Tom Vilsack who said progress is being made in developing the final rules for crop insurance coverage options for farmers and ranchers.
"It's critical that agricultural producers have crop insurance options to effectively manage risks and ensure that they do not lose everything due to events beyond their control. Following the 2014 farm bill signing, USDA has made it a priority to ensure the Supplemental Coverage Option was available to help farmers in this upcoming crop year," Vilsack told reporters last week.
The Secretary made the comments in reference to new provisions to be added this year, specifically the Supplemental Coverage Option (SCO) as provided for in the Agriculture Act of 2014.
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New SCO provisions will be available through the federal crop insurance program and will be administered by the Risk Management Agency (RMA). Vilsack expects the provisions to be available later this year and to become effective during the 2015 season.
He said the goal of increasing available options is to ensure that crop insurance will be an effective risk management tool. Crop insurance is vital, he added, and farmers and ranchers must have access to insurance coverage options that will allow them to manage risks in an effective way, and to make certain they will not lose everything should they be the victims of events outside their control.