Provisions in this bill address the integrity of the crop insurance program and are the kind of changes that will spur more confidence and participation in federal crop insurance the kinds of changes Iowa farmers have wanted for years. Also allows producers to select an alternative CAT coverage based on area yields and losses that is comparable to the standard individual CAT coverage. Provides maximum flexibility in maintain insurable yields in farmers' production history if they have been struck with multiple years of natural disasters. Producers may record in their actual production history a yield equal to 60 percent of the long-term county average yield for any year the actual yield falls below that amount. Establishes new procedures for insuring multiple crops on the same land, with provisions for traditional double-cropping areas.
Producers also have more flexibility with regard to prevented planting coverage.
Cracks down on waste, fraud, and abuse to build a stronger crop insurance program and lower producer costs. This provision will increase the quality and quantity of insurance available to producers and make insurance policies available more quickly. The FCIC would have the authority to enter into contracts for research and development for under-served states and commodities, including specialty crops.