Sheep group enacts protection policy
November 21, 2014
American Sheep Industry Association (ASI) representatives participated in the Nov. 19 meeting of the U.S. Department of Agriculture's Federal Crop Insurance Corporation (FCIC). As a result of the meeting, the FCIC published the following Final Resolution as it pertains to the Livestock Risk Protection – Lamb (LRP-Lamb) insurance product.
"RESOLVED, that pursuant to the information contained in Docket No. CI-Section 508(h) Livestock Risk Protection for Lamb Modification 11-19-14 02, Exhibit 4262 as well as other materials that were submitted to the board on this matter, the board hereby approves Section 508(h) LRP-Lamb modification beginning with the crop year the manager determines is practicable with reinsurance and administrative and operating subsidy in amounts and under such terms and conditions as determined appropriate by the manager as authorized under section 508(h) of the Federal Crop Insurance Act. AND BE IT FURTHER RESOLVED, that the board delegates to the manager the authority to make such technical policy changes as are necessary to make the policy legally sufficient."
ASI continues to work with the Risk Management Agency to reintroduce LRP-Lamb to the industry.