WASHINGTON, Dec 13, 2007 – The Risk Management Agency announced today that the pilot Biotech Yield Endorsement (BYE) will be implemented beginning with the 2008 crop year in the states of Illinois, Indiana, Iowa and Minnesota.
The BYE will provide producers a premium rate reduction if they plant non-irrigated corn for grain containing three specific biotech traits - YieldGard® Corn Borer, YieldGard Rootworm and Roundup Ready® Corn 2, which are only marketed under the trade names of “YieldGard® Plus with Roundup Ready® Corn 2” and “YieldGard VT Triple.”
Producers with an individual yield or revenue insurance plan (APH, RA, or CRC) at a buy-up level of Federal crop insurance coverage will be eligible for the discount on any unit in which they plant at least 75% of their non-irrigated corn for grain acres to a qualifying corn hybrid. RMA will release the BYE, containing the eligibility criteria, and instructions to approved insurance providers in the near future. This endorsement does not waive or otherwise affect the Environmental Protection Agency's (EPA) existing refuge requirements. Producers will be expected to be in full compliance with all EPA requirements.
BYE is not an endorsement of any particular brand of seed. Producers should plant the type of seed that best meets their risk management needs. However, if producers are interested in BYE, they should consult with their crop insurance agent regarding its terms and conditions. RMA will release the BYE eligibility criteria and instructions to approved insurance providers in the near future.