For the first time, many forage producers have access to the Forage Production Revenue Protection insurance program, which provides protection against both yield and price losses. With a Sept. 30 sales closing date for most program states, farmers and crop insurance agents are encouraged to learn how the program works before enrollment closes. To help farmers better understand the new insurance option and determine whether it can help manage risk on their operations, a free educational webinar will be held at 1 p.m. CDT Aug. 11. The webinar is also designed to help crop insurance agents become familiar with the product before the upcoming enrollment deadline.

Webinar presenters include Glenda Blindert, a National Alfalfa & Forage Alliance board member with Blindert Insurance Agency, and Brannick Sweetser of AgriLogic Consulting, both members of the product development team for the new program.

The Forage Production Revenue Protection program leverages the relationship between forage prices and the futures prices of corn, soybean meal and Class III milk to provide in-season price risk protection and more representative insurable values. During the webinar, participants will receive an overview of the program, including information about eligible forage crops and alfalfa mixtures, coverage options, premium estimates, production record requirements, how projected and harvest prices are determined, important enrollment deadlines and when written agreements may be available. Presenters also will demonstrate how coverage and indemnities are calculated using real-world examples.

Coverage is currently available in counties in California, Idaho, Iowa, Michigan, Minnesota, Montana, Nebraska, North Dakota, Pennsylvania, South Dakota, Washington and Wisconsin. Alfalfa is insurable throughout the program area, while red clover, timothy, orchardgrass and birdsfoot trefoil are insurable in select states. Farmers in participating states whose county is not already included may be able to obtain coverage through a written agreement.

Participants attending the live webinar will have the opportunity to ask questions directly to members of the product development team. A recording of the webinar will be available on demand following the live event.

Source - https://hpj.com