New Mexico Cattle Growers and Garnett Insurance along with Great American will be traveling throughout New Mexico educating Farmers and Ranchers on Pasture, Range and Forage Insurance. This risk management tool has been revamped by the FCIC to use the Rainfall Index.
The Pasture, Rangeland and Forage policy (PRF) is a FCIC reinsured risk management tool offered by RMA for farmers and ranchers who rely on pasture, rangeland, or forage for haying and/or grazing. It offers coverage for a significant reduction in rainfall amount in a given geographic area (or grid) containing the insured property. It is NOT based on individual farms or ranches or specific weather stations in the general area. Both grazing land and hay land utilized for forage production may be insured. The policy is based on the experience of each grid to determine indemnities rather than individual farms or ranches. It indemnifies the insured in the event a grid’s accumulated index (either vegetative or rainfall) is below the insured’s “trigger grid index” (coverage level multiplied by the expected grid index) for the period of insurance. This coverage is offered for landlords and tenants, as well as an owner/operators
Management of yield and price risk through the purchase of crop insurance transfers risk from you to others. Crop insurance protects crop investment, borrowed capital, and current savings. Crop insurance also provides collateral to lending institutions, stabilizes income, and provides an added peace of mind.
Educational opportunities will be occurring at the following sites:
October 21 in Tucumcari, NM at the Rockin Y Restaurant at 6pm
October 27 in Roswell, NM at Peppers Bar and Grill at 6pm
November 5 in Clayton, NM in association with NMSU Extension Office at the Rabbit Ears Café at 6pm