A pilot insurance program is being offered to West Virginia livestock producers to help manage financial risk.
The Rainfall Index Pasture, Rangeland, Forage program’s payments aren’t based on single weather stations or individual rain gauges. Instead, the program uses a rainfall index to determine losses and trigger indemnities.
The West Virginia Department of Agriculture says Nov. 15 is the deadline to sign up for the program, which will be available beginning with the 2016 crop year.
The Federal Crop Insurance Corporation Board of Directors recently added West Virginia and 18 other states to the program.
The program is offered by the U.S. Department of Agriculture’s Risk Management Agency.
Topics Agribusiness Virginia
Was this article valuable?
Here are more articles you may enjoy.
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance 
The $3 Trillion AI Data Center Build-Out Becomes All-Consuming for Debt Markets 
