USDA’s recent hurricane crop insurance policy expansion to cover tropical storms this year has already provided farmers $85.4 million to help them recover from Hurricane Idalia.
USDA’s Risk Management Agency rolled out the new Tropical Storm Option for its Hurricane Insurance Protection-Wind Index Endorsement earlier this year after working with farmers to improve coverage. Additionally, producers have received $84.8 million in indemnities for hurricane-related losses for a total of over $170 million in crop insurance payments that will directly help farmers and rural communities recover from Hurricane Idalia. This coverage was unavailable this time last year.
RMA Administrator Marcia Bunger says, “I commend farmers and their organizations for reaching out to RMA to discuss new coverage, and our staff for promptly working on creative solutions to make this coverage a reality.”
Farmers do not need to file a claim to receive payment. If a county is triggered, then the Approved Insurance Provider will issue a payment in the coming weeks.