|
Monsanto, ARMtech Unveil Biotech Yield Assurance(SM) Program for Farmers
11.06.2010 09:34 "Agro Perspectiva" (Kyiv) —
Monsanto Company and ARMtech Insurance Services (ARMtech), an operating subsidiary of Endurance Specialty Holdings Ltd. (NYSE: ENH), are pleased to announce U.S. farmers can choose an additional risk management tool with Biotech Yield Assurance(SM) for the 2011 growing season. The crop insurance program, developed by approved insurance provider ARMtech in cooperation with Monsanto, links an insurance policy to the yield benefits of Genuity® Roundup Ready 2 Yield® soybeans, Genuity SmartStax™ and SmartStax™ corn.
For an incremental premium, Biotech Yield Assurance(SM) will enable eligible farmers to increase coverage by 10 percent of the existing yield guarantee for each insured unit that is 100 percent planted to Genuity® Roundup Ready 2 Yield® soybeans in the states of Illinois, Indiana, Iowa and Minnesota and each insured unit that is 95 percent planted to Genuity SmartStax™ and SmartStax corn in the states of Iowa and Minnesota.
«Monsantos trials have shown that Genuity® Roundup Ready 2 Yield® soybeans and Genuity® SmartStax™ corn are consistent in high-yield production, allowing ARMtech to insure this additional yield with the new Biotech Yield Assurance(SM) policy,» said Ted Etheredge, President of ARMtech.
«Biotech Yield Assurance(SM) policy can help address the risk gap between new high-yielding genetics and actual production history (APH) used for insurance purposes,» Etheredge added. «For example, a grower with an APH of 50 bushels and a Biotech Yield Assurance(SM) policy for Genuity® Roundup Ready 2 Yield® soybeans can bring his total unit coverage to 93.5 percent and insure an additional 4.25 bushels. Thats compared to a Multi-Peril Crop Insurance policy covering 85 percent of APH the highest coverage possible under federal crop insurance policies today.»
If this farmer chooses 80 percent coverage, then Biotech Yield Assurance(SM) would provide total unit coverage of 88 percent of the APH, resulting in coverage of an additional 4 bushels.
«This is a really innovative insurance product, unlike anything weve seen in the industry,» said Rob Heyen, a farmer, a principal at Crop Insurance Solutions and an appointed crop insurance agent of ARMtech. «Having an insurance product built on the strength of Genuity® SmartStax™ and Genuity® Roundup Ready 2 Yield® gives the traits additional value for farmers.»
This is the second risk management tool associated with the insurance industry in which Monsanto has played a key role. In 2008, Monsanto originated the Biotech Yield Endorsement® program, the original program behind the Biotechnology Endorsement (BE), which lowers insurance premiums for corn farmers in 12 states who meet the program eligibility requirements and plant qualifying corn hybrids. The BE was approved by the Board of Directors of the Federal Crop Insurance Corporation (FCIC).
«We recognize farmers have a lot of opportunity and risk on every acre. It is exciting to be able to work with the insurance industry to bring innovative risk management solutions like the Biotechnology Endorsement and now Biotech Yield Assurance(SM) to help our customers manage risk,» said Dr. Robert T. Fraley, Monsantos Chief Technology Officer. «With Biotech Yield Assurance(SM), there is now third-party acceptance from a leading insurance company of the lower risk of yield loss that Genuity® Roundup Ready 2 Yield® and Genuity® SmartStax™ offer farmers, which is consistent with our research and development objectives.»
ARMtech filed the Biotech Yield Assurance(SM) policy as a non-reinsured supplemental insurance policy with the states insurance regulatory agencies and the USDAs Risk Management Agency, which administers the programs on behalf of the FCIC. Biotech Yield Assurance(SM) is not subsidized by the FCIC. Farmers interested in learning more about the program should contact ARMtech and other participating insurance providers.
Pending approval by each states insurance regulatory agency and a review by the Risk Management Agency, the policy will be available for 2011 as a supplement to Multi-Peril Crop Insurance products.
25.04.2024 |
|
|
|
|
|
09:45 |
Parliament approves a revision of the EU’s common agricultural policy |
23.04.2024 |
|
|
|
|
|
16:23 |
MEPs approve trade support measures for Ukraine with protection for EU farmers |
17.04.2024 |
|
|
|
|
|
18:08 |
Ministry of Agrarian Policy and Food predicts this year’s harvest of grains and oilseeds at about 74 million tonnes |
16.04.2024 |
|
|
|
|
|
12:12 |
West Africa Cocoa Shortage Pushes Up Prices |
11.04.2024 |
|
|
|
|
|
23:48 |
U.S. Soybean Meal Exports Forecast at Consecutive Records in 2022/23 and 2023/24 |
|
23:10 |
EU Wheat Exports Challenged by Russia’s Growing Dominance |
|
11:30 |
Country of origin of honey must be clearly visible on the label. EU honey traceability system to be developed |
10.04.2024 |
|
|
|
|
|
15:59 |
Commission starts setting up the Agriculture and Food Chain Observatory |
|
15:33 |
Commission approves ˆ2.2 billion German State aid scheme to support the decarbonisation of industrial processes to foster the transition to a net-zero economy |
|
13:17 |
Donau Soja urges EU for clarity on EUDR implementation |
09.04.2024 |
|
|
|
|
|
10:44 |
Ukraine remained the third source of EU imports in 2023, with a value of EUR 11.8 billion |
06.04.2024 |
|
|
|
|
|
10:04 |
World cereal output seen up in 2023/24 |
|
09:55 |
FAO Food Price Index rises in March |
05.04.2024 |
|
|
|
|
|
10:04 |
Shellfish Crop Insurance Program Offers Oyster Producers Needed Protection from Environmental Challenges and More |
03.04.2024 |
|
|
|
|
|
23:01 |
Croatian horseradish root ‘Ludbreški hren' added to register of Protected Designations of Origin |
02.04.2024 |
|
|
|
|
|
10:15 |
FAO and chef Fatmata Binta announce new project to empower women fonio producers in Ghana |
28.03.2024 |
|
|
|
|
|
12:55 |
Council compromise on Ukraine ATMs – Only a half step forward in the right direction |
|
09:18 |
Commission approves amendment to Italian State aid scheme to support companies in Friuli Venezia Giulia in the context of Russia's war against Ukraine |
26.03.2024 |
|
|
|
|
|
10:55 |
Projected famine in Gaza: FAO urges immediate access to deliver urgent and critical assistance at scale. About 1.1 million people are experiencing catastrophic food insecurity |
|
08:44 |
EU makes major step forward in the delivery of 2024 humanitarian aid for Palestinians in Gaza* |
25.03.2024 |
|
|
|
|
|
16:17 |
Commission approves ˆ86.9 million Bulgarian State aid scheme to support farmers in the context of Russia's war against Ukraine |
21.03.2024 |
|
|
|
|
|
11:15 |
Commission takes action to boost biotechnology and biomanufacturing in the EU |
20.03.2024 |
|
|
|
|
|
11:13 |
Deal to extend trade support for Ukraine with safeguards for EU farmers |
19.03.2024 |
|
|
|
|
|
09:43 |
CAP - The Commission proposes simplifications that safeguard agricultural transitions! |
18.03.2024 |
|
|
|
|
|
23:10 |
The European Union and Switzerland launch negotiations to deepen bilateral relations |
|
10:05 |
Commission proposes targeted review of Common Agricultural Policy to support EU farmers |
15.03.2024 |
|
|
|
|
|
23:36 |
Cargill Power CanolaTM Program Helps Farmers Take Advantage of Growing Bioenergy Market Opportunities for Canadian Canola |
|
23:19 |
FAO will provide Ukrainian farmers with soybean and sunflower seeds for spring sowing campaign |
13.03.2024 |
|
|
|
|
|
23:27 |
FAO urges more cooperation in banana sector, significant for some least developed and low-income food-deficit countries and smallholder farmers |
|
16:51 |
The European Commission sets out key steps for managing climate risks to protect people and prosperity |
12.03.2024 |
|
|
|
|
|
20:25 |
Coreper and COMENVI approve the provisional agreement on EU Carbon Removal Certification Framework |
|
20:24 |
INTA MEPs fail EU producers by dismissing potential improvements to Ukraine ATMs |
|
08:10 |
Soybean meal is expected to be a more competitive feed ingredient on higher global supplies. |
11.03.2024 |
|
|
|
|
|
09:11 |
U.S. Corn Exports Shift Destinations as Brazil Captures China Market |
08.03.2024 |
|
|
|
|
|
15:20 |
Conflicts push acute food insecurity higher |
|
13:21 |
FAO Food Price Index declines further in February |
|
13:14 |
Packaging: Council and Parliament strike a deal to make packaging more sustainable and reduce packaging waste in the EU |
|
11:45 |
Commission approves ˆ61.3 million Bulgarian State aid scheme to support farmers, producers of grain and oil crops, in the context of Russia's war against Ukraine |
07.03.2024 |
|
|
|
|
|
20:41 |
First go-ahead to renewing trade support for Ukraine and Moldova |
05.03.2024 |
|
|
|
|
|
15:55 |
Commission proposes to prolong road transport agreements with Ukraine and Moldova and introduces updates to the agreement with Ukraine |
02.03.2024 |
|
|
|
|
|
07:31 |
Heroes of deserts and highlands: Nourishing people and culture |
23.02.2024 |
|
|
|
|
|
10:21 |
BASF’s financial strength supports proposed stable dividend of ˆ3.40 per share for the 2023 business year |
|
10:17 |
The Council has chosen to ignore farmers' concerns regarding Ukraine ATMs; it is now imperative for the European Parliament to take action |
20.02.2024 |
|
|
|
|
|
20:27 |
South Asia is anticipated to import nearly 14 million tons wheat in 2023/24 |
19.02.2024 |
|
|
|
|
|
13:00 |
Cargill and ENOUGH expand partnership to provide consumers with innovative, sustainable protein options |
17.02.2024 |
|
|
|
|
|
17:47 |
Global Environment Facility approves new FAO-led projects and programs benefiting 46 countries |
16.02.2024 |
|
|
|
|
|
09:10 |
The EU is at a crossroads with the Ukrainian agricultural issue - COPA-COGECA, AVES, CEFS, CEPM, CIBE, EUWEP |
13.02.2024 |
|
|
|
|
|
17:31 |
European farmers exempted from rules on land lying fallow |
12.02.2024 |
|
|
|
|
|
16:45 |
India Wheat Stocks Plummet to Lowest in 15 Years |
03.02.2024 |
|
|
|
|
|
17:35 |
Mandarins. Global production for 2023/24 is forecast to rise to 38.0 million tons |
Also available:
|
| |
|
|