Project Information

A partnership between the Risk Management Agency (RMA) of the United States Department of Agriculture and Mississippi State University (MSU) is conducting a large-scale study known as the National Risk Management Feasibility Program for Aquaculture (NRMFPA). The primary objective of the program is to generate information to help RMA policymakers analyze and evaluate options for crop insurance and risk management tools for aquaculture crops and will provide RMA with policies and related materials.Keith H. Coble and Terrill R. Hanson serve as coordinators for this 4½-year project.

Five advisory committees are providing assistance with project activities. These committees, composed of five to eight experts from across the country, include one committee for each of the aquaculture species groups (catfish, baitfish, salmon, and trout) and another composed of individuals with agricultural insurance and risk expertise. Scientific reports and original research are being developed with the assistance of the advisory committees. The NRMFPA is also funding research by scientists and specialists from across the country.

Specific objectives of the NRMFPA include:

1. Conducting feasibility studies of the top four (as of 1999) aquaculture species groups;
2. Conducting listening sessions in the major production areas to determine producer interest level;
3. Collecting data regarding the risks associated with aquaculture production;
4. Assessing the potential of various risk management tools and insurance designs;
5. Determining if sufficient information exists to develop insurance programs or if other data are needed;
6. Collecting or designing data collection needs for insurance product development;
7. Presenting insurance concepts to producers, industry representatives and other interested parties; and
8. Collecting, analyzing, and addressing all comments related to NRMFPA findings and recommendations.

At the conclusion of the NRMFPA, RMA personnel will make a decision to proceed based in part on the final recommendations of the program. In the event RMA decides not to proceed after the conclusion of the NRMFPA, the agency will provide thorough documentation of listening sessions, unavailability of data, and industry/grower association recommendations about proceeding with insurance program development.

If RMA believes efforts should continue, the agency would further develop insurance programs and/or risk management tools and related materials submitted by the NRMFPA. These materials would then become part of a recommendation to the RMA Board of Directors, who must approve the creation of any pilot programs. This process requires additional years of development before a producer can participate in an insurance program.

Co-Principal Investigators

• Keith Coble
  (662)325-6670



• Terry Hanson
  (662)325-7988

Project Manager

• Corey Miller
  (662)325-0848