WASHINGTON — The deadline to buy the Post-Application Coverage Endorsement, a recently expanded crop insurance offering from the U.S. Department of Agriculture’s Risk Management Agency, is March 15.
First debuted in early 2022, PACE was developed under section 508(h) of the Federal Crop Insurance Act, after critical engagement with corn growers and a thorough actuarial review.
PACE is for corn farmers who “split-apply” nitrogen in most counties in Iowa, Illinois, Minnesota and Wisconsin and select counties in Indiana, Kansas, Michigan, Nebraska, North Dakota, Ohio and South Dakota where non-irrigated corn is insurable.
USDA’s Risk Management Agency rolled out PACE to support stewardship of fertilizer.
“We are excited to see USDA advance data-driven insurance policies that farmers can use to manage their risk and ensure the profitability of their operations,” said Deborah Atwood, AGree strategic adviser and Meridian Institute senior fellow.
“We have seen good demand for PACE and would like to see additional crop insurance products that recognize conservation practices can reduce farmers’ risk over the long term. These types of insurance policies are grounded in rigorous actuarial analysis and peer-review process and can help strengthen the Federal Crop Insurance Program.”
Producers should know:
• If you grow non-irrigated corn in Illinois, Indiana, Iowa, Kansas, Minnesota, Michigan, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin you might be eligible to buy PACE from your crop insurance agent. A list of counties is online at https://tinyurl.com/4h5dxczk.
• When a producer is prevented from post/split applying nitrogen in the two- to three-week V3 to V10 corn growth stages due to weather and field conditions, PACE provides supplemental coverage.
• If this pilot program is successful, there are plans to increase the availability of PACE in counties and states that are not currently covered. USDA is listening to farmers and adapting its programs to ensure producers are receiving the support they need as they face the challenges of a changing environment.
Learn more about PACE at PACECropInsurance.com or by contacting your crop insurance agent.
PACE was developed by the Illinois Corn Growers Association, National Corn Growers Association, Ag-Analytics Technology Company, Meridian Institute and others and submitted to the Federal Crop Insurance Corporation under provisions in the law allowing for private development of new crop insurance products.