Bearden said the NCC is supportive of conducting a 2010 growing season Cottonseed Pilot Endorsement (CPE) – a program which would offer yield coverage for cottonseed as an optional endorsement applicable to buy-up cotton insurance policies.
He said the NCC also is encouraging USDA to act quickly to publish a Proposed Rule for the Supplemental Revenue Assistance Program and to provide adequate time for review and comment by commodity groups and Committee members. The NCC believes this permanent disaster assistance program created under the 2008 farm law to address widespread natural disasters should not penalize a grower for the increased investment made when purchasing a higher, more expensive level of crop insurance protection.
The Texas producer testified that the RMA also should review their policies to determine how best to assist producers following large scale disasters. As an example, he cited the long delay following the 2008 hurricanes that affected farmers in Louisiana, Mississippi and Texas.
Bearden also stated that great care must be exercised during the negotiations of the Standard Reinsurance Agreement to “maintain a reasonable balance between public and private interests. We must, at all costs, guard against forcing changes on approved insurance providers that would ultimately result in an unintended undermining of service to producers.”
National Cotton Council of America
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