LRP-Lamb Insurance Update
February 7, 2014
During its meeting in early February, the Federal Crop Insurance Corporation (FCIC) board suspended sales of the Livestock Risk Protection-Lamb (LRP-Lamb) insurance product. According to the posting on the Risk Management Agency's website, "Sales of Livestock Risk Protection for Lamb (LRP-Lamb) are suspended until further notice." All previously purchased policies (Specific Coverage Endorsements) will be honored.
Within the next 60 days, the American Sheep Industry Association's Sheep Venture Company will be submitting to the FCIC board a new proposal that will change and improve the LRP-Lamb plan of insurance.