Crop Insurance Considerations

1
Crop Insurance Considerations

• Importance of Crop Insurance

2
Soybean Rust RiskManagement Workshop

• Don Hershman and Dick Trimble
• University of Kentucky
• Billy Moore and Gregg Ibendahl
• Mississippi State University
• Melvin Newman and Delton Gerloff
• University of Tennessee
• Clayton Hollier, John Westra, and Boyd Padgett
• Louisiana State University
• Cliff Coker, Rob Hogan, and Chris Tingle
• University of Arkansas
• Thomas Zacharias and Mark Zarnstorff
• National Crop Insurance Services

• Sponsoring Organizations
• University of Kentucky
• University of Tennessee
• Mississippi State University
• University of Arkansas
• Louisiana State University
• National Crop Insurance Services
• And

3
Project Overview

• Funding for this project was provided to National
  Crop Insurance Services (NCIS) through a
  competitively awarded Commodity Partnership
  Agreement from the USDA Risk Management Agency.
• NCIS is a not-for-profit national trade
  association located in Overland Park, Kansas.
• This workshop is open to all interested persons.
  The USDA prohibits discrimination in all its
  programs and activities on the basis of race,
  color, national origin, gender, religion, age,
  disability, political beliefs, sexual
  orientation, and marital status.

4
Workshop OverviewOrganization

• The purpose of this workshop is to address the
  critical farm - risk management issues impacting
  US soybean producers threatened by Asian Soybean
  Rust (ASR). Organization of the workshop is as
  follows
• ASR Background and Fundamentals
• Detection and Agronomic Control Alternatives
• Farm and Risk Management Considerations
• Personalized Risk Management Strategies

5
2001 - 2005 US SOYBEAN ACRES
Acres (Millions)
6
2001 - 2005 INSURED US SOYBEAN ACRES
Acres (Millions)
7
2001-2005 UNITED STATES SOYBEAN LIABILITY
DOLLARS OF LIABILITY (MILLIONS)
8
2001 - 2005 UNITED STATES- PREMIUM PER SOYBEAN
ACRE
DOLLARS/ ACRE
9
2001 - 2005 UNITED STATES- LIABILITY PER SOYBEAN
ACRE
DOLLARS OF LIABILITY/ ACRE
10
1980-2000 UNITED STATES- SOYBEAN LOSS RATIO
LOSS RAIO -
11
2000 - 2004 UNITED STATES SOYBEAN - PREMIUMS AND
LOSS
Dollars (Millions)
12
2001 - 2005 UNITED STATES SOYBEANS PLAN OF
INSURANCE BY POLICIES SOLD
POLICIES SOLD (Thousands)
13
2001 -2005 UNITED STATES SOYBEANS COVERAGE LEVELS
BY POLICIES EARNING PREMIUMS
POLICIES SOLD
14
2001 - 2005 ARKANSASSOYBEAN ACRES
MILLION ACRES
15
2001 - 2005 ARKANSAS- INSURED SOYBEAN ACRES
MILLION ACRES
16
2001-2005 ARKANSAS SOYBEAN LIABILITY
DOLLARS OF LIABILITY (MIILIONS)
17
2001 - 2005 ARKANSAS- PREMIUM PER SOYBEAN ACRE
DOLLARS/ ACRE
18
2001 - 2005 ARKANSAS- LIABILITY PER SOYBEAN ACRE
DOLLARS LIABILITY / ACRE
19
2001 - 2005 ARKANSAS SOYBEAN - PREMIUMS AND LOSS
DOLLARS (MILLIONS)
20
1980-2000 ARKANSAS- SOYBEAN LOSS RATIO
LOSS RATIO -
21
2001 - 2005 ARKANSAS SOYBEANS PLAN OF INSURANCE
BY POLICIES SOLD
POLICIES SOLD
22
2001 -2005 ARKANSAS SOYBEANS COVERAGE LEVELS BY
POLICIES EARNING PREMIUMS
POLICIES SOLD
23
Crop Insurance Considerations

• Crop Insurance 101

24
Source www.rma.usda.gov/policies/cycle/insurance_
cycle.htmRMA Insurance Cycle

• Policy Renewal/Change Options/Application
• Sales Closing/Cancellation/Termination Dates
• Acceptance
• Insurance Attaches
• Acreage Reports
• Summary of Coverage
• Premium Billing
• Notice of Damage or Loss
• Inspection
• Indemnity Claim
• Contract Change Date

25
Policy Renewal/Change Options/Application

• The Special Provisions of Insurance list program
  calendar dates, and general and special
  statements which may further define, limit, or
  modify coverage

26
Insurance Attaches

• For annual crops, insurance attaches annually
  when planting begins on the insurance unit
• Crop must be planted on or before crops
  published final planting date unless late or
  prevented planting provisions apply
• If prevented planting provisions apply, and crop
  cannot be timely planted due to causes specified
  in the crop provisions, crop acreage may be
  ineligible for payment

27
Acreage Reports

• Policyholder must annually report for each
  insured crop in the county in detail information
  about the crop
• Number of insurable and uninsurable acres planted
  or prevented
• Date acreage planted
• Share in the crop
• Acreage location
• Farming practices used
• Types or varieties planted

28
Notice of Damage or Loss

• Filed by policyholder within 72 hours of initial
  discovery of damage or loss but not later than 15
  days after the calendar date for the end of the
  insurance period unless stated in individual crop
  policy

29
Inspection

• If necessary, inspection made after insurance
  provider receives written notice of damage or
  loss
• Responsibility of policyholder to establish the
  time, location, cause and amount of any loss

30
Indemnity Claim

• Indemnity check and summary of indemnity payment
  issued after the claim for indemnity is processed

31
Soybean Coverage Dates

• Sales Closing 2/28
• Earliest Planting 4/16
• Final Planting 6/15
• Acreage Reporting 7/15

Based on 2006 CY MPCI Actuarial Documents
32
Crop Insurance Plan Comparison

• Multiple Peril Crop Insurance (MPCI - APH)
• Crop Revenue Coverage (CRC)
• Revenue Assurance (RA)
• Group Risk Plan (GRP)
• Group Risk Income Protection (GRIP)
• Income Protection (IP)

33
Soybean Coverage Availability
Based on 2006 CY Actuarial Documents
34
Soybean Coverage Availability
GRIP GRP
Based on 2006 CY Actuarial Documents
35
Multiple Peril Crop Insurance (MPCI)

• Provides protection against loss in yield due to
  nearly all natural disasters
• Guarantees a yield based on individual producers
  Actual Production History (APH)
• If production to count is less than the yield
  guarantee, the insured will be paid a loss

36
Crop Revenue Coverage (CRC)

• Guarantees an amount of revenue (based on the
  individual producers actual production history
  APH X commodity price)
• Final guarantee based on the greater of the
  spring-time generated price (base price) or the
  harvest-time generated price (harvest price)
• Guarantee may increase, but premium will not
• CRC covers revenue losses due to a low price, low
  yield, or any combination of the two
• Loss is due when the calculated revenue is less
  than the final guarantee for the crop acreage

37
Revenue Assurance (RA)

• Provides coverage to protect against loss of
  revenue caused by low prices or low yields or a
  combination of both
• Has the Fall Harvest Price Option (FHPO)
  available
• With the option, RA works like CRC
• Protects a producers crop revenue when the crop
  revenue falls below the guaranteed revenue

38
Group Risk Plan (GRP)

• GRP based on experience of county rather than
  individual farms
• Indemnifies the insured in the event the county
  average per acre yield or payment yield falls
  below the insureds trigger yield
• Based on county yields and not individual yields
• Insured may have a low yield and not receive
  payment under GRP

39
Soybeans Premium CalculationsStates and Plans

• States
• Arkansas
• Kentucky
• Louisiana
• Mississippi
• Tennessee
• Plans
• APH
• CRC
• RA with Harvest Price Option

40
Basis for Developing Premiums

• Cropyear 2005
• Price variability factors arent available yet
  for 2006
• Type No Type Specified
• Practice Non-irrigated
• Rates for Irrigated and Non-irrigated are
  identical
• Optional Units
• No surcharges (other than RA-HPO) are included
• The Producers APH is set at the Reference Yield

41
County Selection

• Basis for County Selection
• Select the largest County in each state
• Based on Policies Earning Premium, Acres,
  Liability, Premium
• Selected Counties

42
Arkansas SoybeansPremiums per Acre for 2005
Cropyear
43
Premium Subsidy Factors - 2006
44
Using the RMA Premium Calculator

• Go to
• http//www3.rma.usda.gov/apps/premcalc/
• See the following slides

45
Starting Screen
46
Enter Acres, APH, Rate Yield, and Share
47
Example Arkansas CRC
48
GOOD FARMING PRACTICES

• Risk Management Agency

49
Legislated Authority

• ARPA 2000 Amended Section 508(a)(3)(A) of the
  Federal Crop Insurance Act
• Insurance providedshall not cover losses due to
  
• (iii) The failure of the producer to follow good
  farming practices, including scientifically sound
  sustainable and organic farming practices.

50
Legislated Authority

• A producer shall have the right to a review of a
  determination regarding good farming practices
  made under subparagraph (A)(iii) in accordance
  with an informal administrative process to be
  established by the Corporation.
• Sec. 508(a)(3)(B)(i)

51
Good Farming Practices (GFP) Defined

• The production methods utilized to produce the
  insured crop and allow it to make normal progress
  toward maturity and produce at least the yield
  used to determine the production guarantee or
  amount of insurance, including any adjustments
  for late planted acreage, which are
• Source RMA MGR-05-010 www.rma.usda.gov/news/man
  agers/2005/PDF/mgr-05-010.pdf

52
GFP Definition Contd

• (1) for conventional or sustainable farming
  practices, those generally recognized by
  agricultural experts for the area or (2) for
  organic farming practices, those generally
  recognized by the organic agricultural industry
  for the area or contained in the organic plan.
  We may, or you may request us to contact FCIC to
  determine whether or not production methods will
  be considered to be good farming practices.

53
GFP Basics To be a GFP, the Production Method

• Allows the insured crop to make normal progress
  towards maturity
• Produces at least the yield used to determine
  production guarantee
• Does not reduce or adversely affect the yield
• Is generally recognized for the area by ag
  experts or contained in organic plan

54
GFP Decisions (AIP)(Approved Insurance Provider)

• AIP must make a decision that methods used
  constitute GFP under Basics
• Producer may provide published material or a
  written opinion from an expert
• Producers should consult with AIP regarding any
  opinion/information
• Producers should consult with AIP regarding GFP
  compliance with Basics

55
GFP Decisions (AIP)

• Shall be based on
• the agronomic situation of the producer
• The producer provides the AIP all relevant
  information relating to the production method,
  including receipts, weather and climate factors,
  disease risks, etc. affecting the crop.

56
GFP Decisions (AIP)

• Production methods are not considered a GFP when
• method fails to meet standards, i.e. progress
  towards maturity, produce at least the yield, not
  reduce or adversely affect yield, and are
  generally recognized.
• there is no published materials supporting the
  recommendations or opinions of experts except
  when two or more experts support the
  recommendation or opinion.
• there is a genuine dispute between experts, or
  between the expert and published material

57
Genuine Dispute

• When resolving a genuine dispute, AIPs should
  consider
• whether there is a long standing general
  agreement among experts regarding the GFP, but a
  minority disagree
• whether the producer can prove that similarly
  situated producers have used the method and the
  production was consistent with the APH yield

58
GFP Determinations (RO)(Regional Office RMA)

• If the AIP cannot make a decision, or if the
  producer disagrees with the AIPs written
  decision, then
• the producer (through the AIP) or the AIP may
  request the RO to make a GFP determination
• such determination will be made based on the same
  standards as the GFP decision
• the request must be sent to the applicable RO
  serving the location of the insured acreage

59
GFP Determinations (RO)

• If the RO determines that the request file is
  complete, then
• RO may contact experts who have provided written
  opinions or who prepared published materials
• a written GFP determination will be made by the
  RO and sent to the requestor, with copy to AIP or
  producer, as appropriate, and to shareholders and
  other AIPs

60
Requirements for AIP/RO Decisions/Determinations

• Opinion of agricultural expert must
• Be in written format, signed and dated
• Answer all questions requested by AIP/RO
• Be supported by research or published material
• Include signed conflict of interest disclosure
  statement
• Include evidence of FCIC approved professional
  certification, or title if CSREES or agricultural
  departments of States or universities.

61
Agricultural Expert Defined

• Persons who are employed by the Cooperative
  State Research, Education and Extension Service
  or the agricultural departments of universities,
  or other persons approved by FCIC, whose research
  or occupation is related to the specific crop or
  practice for which such expertise is sought.

62
Agricultural Experts - Approved

• American Society of Agronomy (ASA)
• Certified Crop Advisers
• Certified Professional Agronomists
• National Alliance of Independent Crop Consultants
  (NAICC)
• Certified Professional Crop Consultants
• American Society of Horticultural Sciences (ASHS)
• Certified Professional Horticulturists

63
Agricultural Experts for Organics

• Appropriate Technology Transfer for Rural Areas
  (ATTRA)
• National Sustainable Agriculture Information
  Service - www.attra.ncat.org
• Sustainable Agriculture Research Education
  (SARE) - www.sare.org
• In addition to those previously cited

64
Reconsiderations

• By producer, in writing, within 30 days
• To Deputy Administrator of Insurance Services
  (RMA)
• Must include basis for reconsideration request
• Must show that determination was not made
  according to policies and procedures, or
• Not all material facts were considered

65
Reconsiderations

• Producer will have additional time to support
  reconsideration request
• Producer may provide expert opinion
• Reconsideration will be file review
• RMA may contact Ag Experts to clarify
• Reconsiderations signed by RMA

66
Reconsiderations

• Producer has right to Judicial Review within 1
  year of RO determination or reconsideration
  decision
• RMA determination cannot be overturned unless
  arbitrary and capricious
• Judicial Review is in District Court

67
Reconsideration Decisions

• Apply to all shareholders/companions on the
  acreage at issue
• Will receive a written decision
• Copy to AIP

68
ASR Website

• The ASR Website provides real-time guidance to
  growers which they could use to document their
  good farming practices
• The guidance was provided by agricultural experts
  within the Cooperative Extension System
• The guidance was available to both growers and
  insurance companies
• Soybean alerts made everyone aware of the areas
  where soybean rust might become a problem

69
Published Material

• Required to support good farming practice
  determinations
• Information published by an agricultural expert
  such as agronomy guides, extension service
  publications, chemical labels, scientifically
  sound research, textbooks, university agronomic
  recommendations

70
Source www.rma.usda.gov/news/2005/03/soybeanrus
tqanda.pdf

• Attachment 2Questions and Answers

71
1. RMA has issued a guidance about the need for
producers to follow good farming practices when
controlling Asian soybean rust and complying with
Federal crop insurance policy provisions. Has
RMA defined these good farming practices?

• The definition of good farming practices is
  located in the Common Crop Insurance Policy Basic
  Provisions. Further, the terms referenced in the
  definition of good farming practices have also
  been defined for further clarity. To determine
  whether a disease control measure is a good
  farming practice, four questions must be answered
  by the agricultural expert whether the
  recommended disease control measures will
• (1) Allow the insured crop to make normal
  progress toward maturity
• (2) Produce at least the yield used to determine
  the production guarantee or amount of insurance,
  including any adjustments for late planted
  acreage
• (3) Not reduce or adversely affect the yield if
  it is applied or not applied to the insurance
  crop and
• (4) Be generally recognized for the area or
  contained in the organic plan, as applicable.
• If an answer to any of the above stated questions
  is negative, the disease control measure would
  not be considered a good farming practice.

72
2. Who should be considered the local
agricultural expert regarding providing guidance
in the following good farming management
practices?

• Agricultural experts currently approved by RMA
  include plant pathologists who are employed by
  the Cooperative State Research, Education and
  Extension Service, the agricultural departments
  of States and universities, and certified crop
  consultants. Other persons may be qualified if
  their research or occupation is related to the
  specific crop or practice for which such
  expertise is sought. To obtain approval for such
  persons contact RMAs Deputy Administrator for
  Insurance Services at USDA/RMA/Deputy
  Administrator or Insurance Services/Stop 0805,
  1400 Independence Avenue SW., Washington, DC
  20250-0805.
• Websites such as www.ces.ncsu.edu/depts/pp/soybean
  rust/index.htm, www.aphis.gov, www.soygrowers.com,
  www.stopsoybeanrust.com, www.soybeanrustinfo.com,
  www.usda.gov/soybeanrust, and www.epa.gov may
  also contain helpful information about ASR
  treatments.

73
3. What are the obligations of the producer in
dealing with this issue?

• Producers are responsible to keep informed of
  Asian soybean rust outbreaks in their area and
  act appropriately to prevent or eradicate the
  outbreak. This includes frequently scouting
  their fields and documenting their findings.
  Just as with virtually all other diseases,
  soybean producers should consult an agricultural
  expert when Asian soybean rust becomes a threat
  in their area.
• Producers must also follow recommendations from
  local agricultural experts to control or prevent
  the disease.

74
4. Some concerns regard the availability of
fungicides to fight the disease. What will
happen if there are not enough chemicals to
properly treat soybean fields infected by Asian
soybean rust?

• The producer must make all efforts to obtain the
  recommended fungicides. If a producer is unable
  to obtain the needed fungicides prior to or
  during the time periods when such application is
  required, losses resulting from an Asian soybean
  rust infestation will be covered. Producers
  should document the circumstances and results of
  their efforts to obtain fungicides.

75
5. Considering the number of producers affected
and the fact that many producers do not own their
own applicators, will coverage be provided in the
event there are not enough applicators to apply
needed fungicides?

• As with the availability of fungicides, the
  producer must make all efforts to obtain
  applicators. However, if the producer is unable
  to apply fungicides timely and at recommended
  levels because applicators are not available for
  use, losses resulting from an Asian soybean rust
  infestation will be covered.

76
6. What are the recommended applications for
organic soybean producers?

• Organic soybean producers should consult with
  their local organic agricultural industry person
  to determine recommended applications. The
  organic agricultural industry persons currently
  approved by RMA include plant pathologists who
  are employed by the following organizations
  Appropriate Technology Transfer for Rural Areas,
  Sustainable Agriculture Research and Education or
  the Cooperative State Research, Education and
  Extension Service, the agricultural departments
  of States and universities, and certified crop
  consultants.

77
7. How will the Federal crop insurance program
respond if recommended organic applications do
not work again Asian soybean rust?

• Organic production practices approved by a
  certifying agent are considered good farming
  practices and soybean producers are required to
  follow such good farming practices and the
  recommendations of the local organic agricultural
  industry persons. Organic producers are not
  required to do anything that may endanger their
  organic certification. If the losses are
  unavoidable due to naturally occurring events and
  producers follow organic good farming practices,
  then Asian soybean rust is an insured cause of
  loss.

78
8. What are the chances that these organically
approved applications will work against Asian
soybean rust?

• Only local organic agricultural industry persons
  are qualified to respond and such persons should
  be consulted.

79
9. What if the cost of chemicals or organic
materials outweighs the benefits? Once I plant
the crop, isnt it still insurable?

• Economics are not a consideration in determining
  if good farming practices have been used. If
  rust infects or threatens an insureds soybean
  crop, to be eligible for the full amount of
  coverage, producers must apply the recommended
  applications and follow good farming practices
  regardless of cost. Failure to follow the
  recommendations of the agricultural expert or
  local organic agricultural industry persons
  because the producers does not want to or cannot
  afford to incur the costs associated with
  following the recommendations, because the costs
  associated with following such recommendations is
  greater than the value of the crop, or because
  the producer is unable to obtain financing is not
  considered a good farming practice.

80
9. What if the cost of chemicals or organic
materials outweighs the benefits? Once I plant
the crop, isnt it still insurable?

• If a producer chooses not to properly care for
  the crop, the crop is still insured. However,
  the losses associated with the decision to not
  care for the crop would be considered damage
  caused by uninsured causes and the production
  loss associated with such uninsured causes would
  be considered in the determination of production
  to count, resulting in a reduction in the
  indemnity.
• For example if an application of disease control
  measures would prevent further losses of 5
  bushels per acre, and the producer elects to not
  treat the crop, then crop insurance may cover
  other losses except that 5 bushels.

81
10. What if there is a control measure listed for
Asian soybean rust in the organic plan and a
newly approved control measure becomes available?
Can the plan be amended?

• Yes. The organic plan may be amended to include
  additional measures, should the need occur.
  Organic producers would need to contact their
  certifying agency. Consult the Organic Materials
  Review Institute at www.omri.org, or the
  USDA-National Organic Program at
  www.ams.usda.gov/nop, or, in the case of the Iowa
  Department of Agriculture and Land Stewardship
  (organic certification program), at
  www.agriculture.state.ia.us.

82
11. Should producers document their production
practices?

• It is strongly recommended that producers
  document their actions including any advice or
  opinions from agricultural experts or organic
  agricultural industry person and any actions
  taken in response to such advice or opinion.
  Acceptable documentation includes, but it is not
  limited to, the following
• 1. Data from local weather stations
• 2. Published anecdotal records such as
  newspaper and magazine articles
• 3. Farm Service Agency reports
• 4. Written recommendations from extension
  agents or other agricultural experts (see crop
  insurance policy for a listing of qualified
  persons)
• 5. Printed information from Federal, state,
  university or extension official websites

83
11. Should producers document their production
practices?

• 6. Other published information (facts sheets,
  bulletins, newsletters, etc) from
• A. Land grant universities
• B. Cooperative extension service or
• C. Independent their parties such as farm
  advisors or certified crop consultants.
• 7. Contemporaneous records of planting,
  spraying, scouting, harvesting and any other
  applicable farm practices such as journals, logs,
  etc. that contain the date the practice occurred
  and how it was carried out
• 8. Contemporaneous journals, logs or notes of
  persons contacts, the date, and the information
  provided
• 9. Chemical labels and brochures and
• 10. Other records as determined necessary by the
  crop insurance company or RMA.
• 11. Unpublished documentation may be subject to
  verification.

84
12. To whom should producers go for further
information?

• Producers that could be impacted by Asian
  soybean rust should talk with their chemical
  suppliers, certified crop consultants, and plant
  pathologists in agriculture departments of State
  governments, universities, and USDAs Cooperative
  State Research, Education and Extension Service
  who are familiar with the risks of exposure to
  this disease.
• Producers should direct crop insurance questions
  to crop insurance agents and agronomic questions
  regarding production methods to local agriculture
  experts and organic agricultural industry
  persons.

85
Alternative Risk Management Considerations
86
Source www.farmdoc.uiuc.edu/manage/newsletters/f
efo05_06/fefo05_06.html

• Many share-rent arrangements share chemical costs
  between landlords and farm operators in
  proportion to the shares of crop revenue.
• Questions of how to share fungicide costs arise
  under arrangements that do not share chemical
  costs in proportion to crop revenues.
• In these situations, there may be ambiguity
  whether fungicide costs should be shared equally
  or paid totally by the operators.
• Written leases may not totally clarify how
  fungicides should be split because some may not
  specifically mention fungicides.
• Technically, fungicides are a sub-category of
  pesticides and the cost likely will be split
  according to the percentage indicated for
  pesticides.
• In general, clarifying up front how fungicide
  costs will be shared is wise. If an oral lease
  is used, the issue obviously needs clarification.

87
Harvest-Price Revenue Insurance and Pre-harvest
Pricing Companion Tools for Managing Grain Price
and Yield Risk

• By Dr. Robert N. Wisner, University Professor of
  Economics and Extension Grain Marketing
  Economist, Iowa State University
• Source Crop Insurance Today, August 2001

88
Article Highlights

• Todays farm economy reflects narrow profit
  margins, substantial price risk, and increased
  weather volatility.
• Even with government payments, a cash-only
  marketing strategy and normal yields in recent
  years has generated very limited profits or no
  profit at all

89
Article Highlights Contd

• Pre-harvest Pricing
• Historical track record indicates the odds of
  enhancing prices versus those available at
  harvest or through storage are increased with
  pre-harvest sales
• December corn prices higher in 80 of years since
  1975
• November soybean prices higher 66

90
Article Highlights Contd

• Managing Production and Price Risks at the Same
  Time
• Crop Revenue Coverage (CRC) and Revenue Assurance
  with fall harvest price option (RA-F) are logical
  companion products for pre-harvest pricing
• Both guarantee dollars per acre of coverage, with
  coverage increasing if prices rise at harvest
  from the initial pre-harvest levels
• Coverage is based on price times yield
• Producer is not fully protected against price
  declines

91
Article Highlights Contd

• Results of combining this tool with pre-harvest
  pricing
• 1. Protection against lower prices even with
  better-than-normal yields
• 2. In case of low yields, the insurance provides
  for replacement of the lost (non-produced)
  inventory at the higher harvest price, thus
  providing coverage to buy back over-sold forward
  contract or hedges

92
Personalized Risk Management Strategies
93
Pre-Season Risk Management Checklist
94
Risk Management Checklist

• Financial Considerations
• Marketing Plan
• Deadlines

95
(No Transcript)
96
Contingency Implementation
97
(No Transcript)
98
(No Transcript)
99
Post-Season Assessment

• Was risk assessment accurate?
• Were control measures necessary?
• If measures taken, were they effective?
• Evaluate cost of control measures and monitoring
  in relation to benefits/risks
• Develop plan for next season

100
Post-Season Assessment