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Funding Opportunities at the Risk Management Agency

Funding Opportunities at the Risk Management Agency. Craig Witt Risk Management Education Director July 26, 2003. Risk Management Agency. Established in 1996 from Federal Crop Insurance Corporation. Operate the Federal Crop Insurance Program in partnership with private insurance companies.

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Funding Opportunities at the Risk Management Agency

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  1. Funding Opportunities at the Risk Management Agency Craig Witt Risk Management Education Director July 26, 2003

  2. Risk Management Agency • Established in 1996 from Federal Crop Insurance Corporation. • Operate the Federal Crop Insurance Program in partnership with private insurance companies. • Relatively small USDA agency • 10 Regional Offices • 6 Compliance Offices • Research and Development Office

  3. Key Funding Development • Agricultural Risk Protection Act of 2000 (ARPA) • ARPA: • Substantial research and education funding • Authorization of innovative programs, i.e. livestock insurance, Agricultural Management Assistance • Higher crop insurance subsidies • Stronger compliance

  4. Federal Crop Insurance Coverage Liability - $ billions

  5. RMA Funding Opportunities 1. Research a. Contracting * b. “508h” - $10m/y c. Research Partnerships * 2. Education a. Commodity Partnerships * b. Targeted States - $5m/y c. RME Grants (through CSREES) - $5m/y 3. Outreach a. Outreach Partnerships * * From a fund of $20m/y

  6. Research Funding Opportunities • Contracting • Ongoing feasibility studies for insurance products • Ongoing development of new insurance products • “508h” • Reimbursement for new product development costs • Research Partnerships • Agreements to develop new risk management tools • RFA for $4m due July 28, 2003

  7. RMA Education Funding Opportunities • Commodity Partnerships • Targeted States

  8. Common Features:“Commodity Partnerships”and “Targeted States” • 2003 RFA due July 28, 2003 • Cooperative Agreements - Not Grants • substantial involvement of RMA • Tasks • Finalize RME delivery plan • Assemble instructional materials • Conduct promotion program • Conduct education activities • Document results

  9. “Commodity Partnerships” • National Scope • Education emphasis on Production, Marketing, and Financial • Priority for producers of: • Crops not covered by crop insurance • Specialty crops • Under-served commodities • Funding determined by RMA administrator • 2002 - 72 Agreements for $3.7 million • 2003 - 39 Agreements (max) for $3.5 million

  10. “Targeted States” • Restricted to 15 States (12 NE and 3 Mountain States) • Restricted to Crop Insurance Education • Supported by the Agricultural Management Assistance program • Funding up to $5 million per year • 2002 - 13 Agreements for $1.8 million • 2003 - 15 Agreements (max) for $4.25 million

  11. Program Results • Substantial partnering among key stakeholders. • More than 49,000 producers reached during 2002. • Documented increase in producer awareness of risk management tools and their use. • Documented increase in the use of risk management tools, especially crop insurance. (i.e. Targeted States insurance coverage will exceed $1 b for the first time in 2003) • Success stories (i.e. Pennsylvania)

  12. “Outreach Partnerships” • National Scope • Emphasis on meeting the needs of small, limited resource, and minority producers. • Funding determined by RMA administrator • 2002 - 46 Agreements for $3.7 million • 2003: • Request for Applications due August 1 for $3.5 million

  13. www.rma.usda.gov

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