11/02/05 AGR Lite progress report

11/02/05 AGR Lite progress report

The popular Adjusted Gross Revenue crop insurance pilot program in the Pacific Northwest was expanded last year for the 2005 crop year to provide greater coverage for small to mid sized farms. Called Adjusted Gross Revenue Lite, the program in its first year, has been a noted success. So says John Nelson of Washington State University's Western Center for Risk Management Education which is presenting an upcoming video conference along with U.S.D.A.'s Risk Management Agency. NELSON: The program sold over seventy per cent of the policies that were sold across the United States last year in its first year out here. And it was primarily due to the partnership efforts between the Western Center and the R.M.A. and then all of the partners that have worked with us in trying to get the awareness out there to growers. That awareness started in earnest last year when a fall time video conference for the three Northwest states and Alaska was broadcast to county extension offices and over the internet. And again, the Western Center, R.M.A. and other partners present a second video conference on A.G.R. Lite. That is set to take place on Friday, November 4th between 9:30 and11:30 AM Pacific Time. Like last year, a panel consisting of an economist, banker, accountant, agriculturists, and insurance representatives with answer moderator questions and field questions from callers and e-mailers. So are there any changes of note in A.G.R. Lite for the 2006 crop year? Nelson says there is one main difference. NELSON: The increase in the liability on the policy from $250,000 to $1 million dollars. They've also done some adjusting of defining what the coverages are, but primarily that's the big one. And considering A.G.R. Lite is an all-farm revenue insurance, and it meets the needs of ag producers who traditionally have been shunned for coverage by the insurance industry, Nelson believes as awareness of A.G.R. Lite grows, so will the number of producers signing up. NELSON: Probably the one area that is the least attractive to in market is the single crop grower. And this single crop grower is able on this all farm basis for a very nominal amount of money to cover up to forty-eight per cent roughly of his liability, or of the liability of his gross revenue. Those wishing to participate in the live conference, or who wish to view the conference at a later date or time, can go to this website, www.westrme.wsu.edu. Just click on the link, "A.G.R. Lite Video Stream Conference".
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