Growers planting the just-approved Monsanto's Genuity SmartStax RIB Complete may be eligible to receive a discount on crop insurance under the Pilot Biotechnology Endorsement program from USDA.
Monsanto’s refuge-in-a-bag product has been approved for crop insurance discounts based on biotechnology. Growers planting Genuity SmartStax RIB Complete will receive a crop insurance premium reduction as part of USDA’s Risk Management Agency’s Pilot Biotechnology Endorsement (BE) program.
A limited amount of the new refuge product is being planted across the Corn Belt. Growers who are planting it may be eligible for the insurance rate reduction. Monsanto reports that Genuity SmartStax, Genuity VT Triple PRO and YieldGard VT Triple corn hybrids also may qualify for the same discount.
The BE insurance program was the first crop insurance discount based on biotechnology. It was first introduced in 2008 in four states as the Biotech Yield Endorsement program. Monsanto says it was the originator of the Biotech Yield Endorsement program in 2008. The company gathered and analyzed substantial data from three years and then submitted it to USDA. According to Monsanto, the data showed the “YieldGard triple stack technologies delivered more consistent yields, effectively lowering risk.” The Pilot BE program grew out of this effort.
For more details on the BE program, visit www.rma.usda.gov/policies/bye.html.