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Watts and Associates Experience

From its inception, Watts and Associates, Inc. provided economic consulting for damage calculations, civil suits, business and business interest valuations, dissolution analysis, and bankruptcy financial analysis for individual and corporate businesses. In the last decade, Watts and Associates, Inc. has also consulted on contracts addressing risk management, data management, software development, and insurance program review, primarily for departments within governments and major non-government organizations, but also for private entities. A partial list of projects and products follows:

Projects/Products Fiscal Year 2011:

Feasibility Research Report for Insuring Aquaculture Bivalve Species (Ongoing)
Consulting Services for Series of Courses on Agri-Insurance in Ukraine Phase 2 (Ongoing)
Evaluation and Recommended Improvements of the Current Nursery Crop Insurance Program and Recommendations for Alternative Designs for Providing Insurance for Nursery Crops (Ongoing)

Projects/Products Fiscal Year 2010:

Feasibility Research Report for Insuring Commercial Poultry Production (Completed)
Evaluation of the Florida Fruit Tree Pilot Crop Insurance Program (Ongoing)
Crop Margin Coverage – Spring Wheat and Rice (Pilot) Program Development (Ongoing)
Private Proposal for Development of Non-Futures Crop Revenue Coverage (Ongoing)

Projects/Products Fiscal Year 2009:

Determining the Feasibility of Citrus Greening as a Cause of Loss under Florida Fruit Tree Ins Program – (Completed)
Minnesota North Dakota Kentucky Bluegrass and Perennial Ryegrass Actual Production History (APH) – (Completed)
Popcorn Revenue Concept Proposal – (Ongoing)
Biotechnology Endorsement Expansion – (Ongoing)
Organic Crops: Review of Risk and Loss Experience and Development of Additional Price Election Procedures – (Completed)
Private Sector Risk Management Partnerships (PSRMP) Project Entitled Individualized Area Based Insurance – Phase 2A in Alberta – Canada – (Completed)
Private Sector Risk Management Partnerships (PSRMP) Project Entitled Individualized Area Based Insurance – Phase 3 in Alberta – Canada – (Completed)
Private Sector Risk Management Partnerships (PSRMP) Project Entitled Individualized Area Based Insurance – Manitoba – Canada – (Completed)
Private Proposal Development for 508h Submission (CPE) – (Ongoing)
Private Proposal Development for Specialty Soybean Revenue Development (Ongoing)

Projects/Products Fiscal Year 2008:

Consulting Services for Series of Courses on Agri-Insurance in Ukraine Additional Training Extension (Completed)
Consulting Services for Series of Courses on Agri-Insurance in Ukraine – (Completed)
Consulting Services for Margin Coverage Program – Canada – (Completed)
Expert Review Support - Cherries – (Completed)
Actual Revenue History (ARH) Navel Orange – (Completed)
BPA - Strawberry ARH Insurance Program Package – (Completed)
BPA - Dry Peas & Lentils ARH Insurance Program Package – (Completed)
BPA - Sugarbeets ARH Insurance Program Package – (Completed)
Revenue Insurance Program - Cherries Additional Counties – (Completed)
Biotechnology Endorsement – (Completed)
Quarantine Endorsement Pilot Program – (Ongoing)

Projects/Products Fiscal Year 2007:

CA Avocado Actual Production History (APH) Plan of Insurance Development – (Completed)
Expert Review of the Section 508 (h) Biotech Yield Endorsement – (Completed)
Poultry Production Loss Gap Analysis – Canada – (Completed)
Private Sector Risk Management Partnerships (PSRMP) Project Entitled Individualized Area Based Insurance – Canada – (Completed)

Projects/Products Fiscal Year 2006:

Livestock Insurance Product Evaluation (LRP and LGM) – (Completed)
World Bank Task Managers Instruction – (Completed)
Agriculture Insurance Technical Assistance for India – (Completed)
Alternative Sugar Beet Byproduct Uses Research and Feasibility Analysis – State of Montana – (Completed)

Projects/Products Fiscal Year 2005:

Development of a Pilot Program for Indexing for Category B Crops (Declining Yields) (Subcontractor) – (Completed)
Review of the Livestock Risk Protection (LRP) Lamb Endorsements Program (Additional Expert Review) – (Completed)
Actuarial and Underwriting Review of the Livestock Gross Margin Pilot Program for Cattle – (Completed)
Onion Stage Removal Pilot Evaluation – (Completed)
Holistic Debt, Crop Insurance, and Whole Farm Financial Risk Management Tool – (Completed)

Projects/Products Fiscal Year 2004:

Review of the Livestock Risk Protection (LRP) Lamb Endorsements Program – (Completed)
Sweetpotato Pilot Program Development – (Completed)
Research and Development for Small Value Crops (currently Named Peril Weather Index) – (Completed)
Development of a Risk Management Program for Pasture/Rangeland and Forage – (Completed)

Projects/Products Fiscal Year 2003:

Revenue Insurance Program Development – (Ongoing)
Research Report for Storage Insurance Options for Apples, Onions, Sugar Beets, and Sweetpotatoes – (Completed)
Research Report for Hybrid Sunflower Seed, Sesame, and Spelt Crops – (Completed)
Pasture and Rangeland Program Insurance Development – (Completed)
Group Risk Plan Rangeland Program New Index Research and Development – (Completed)
Actuarial and Underwriting Reviews of the APH/RA/CRC Rate Analysis – (Completed)
Actuarial and Underwriting Review of the “Livestock Risk Protection Program – Program Update for Feeder Cattle, Fed Cattle, and Swine” – (Completed)
Actuarial and Underwriting Review of the “Adjusted Gross Revenue – Life Plan of Insurance” – (Completed)
Actuarial and Underwriting Review of the “Coffee Production and Tree Plan” – (Completed)
Sweetpotato Pilot Evaluation – (Completed)

Projects/Products Fiscal Year 2002:

Market Opportunities and Strategic Consideration for Specialty Herbs and Essential Oil Crops in Montana (Completed)
Research and Development of a Pilot Crop Insurance Program for Silage Sorghum – (Completed)
Research Report for Livestock Insurance Program – (Completed)
Evaluation of the Group Risk Plan – Rangeland Pilot Insurance Program – (Completed)
Quality Review of Dry Bean and Sugar Beet Crop Insurance Policies – (Completed)
Christmas Tree Research and Development Insurance Program – (Completed)
Livestock Risk Protection Plan – Fed Cattle Review, Feeder Cattle Review, Dairy Review – (Completed)
Review of the Adjusted Gross Revenue (AGR-Lite) Plan of Insurance – (Completed)
Cultivated Wild Rice Pilot Evaluation – (Completed)
Prevented Planting (Subcontractor to SAIC) – (Completed)
Review of the AUP and ELS Cotton Skip Row Planting Factors – (Completed)

Projects/Products Fiscal Year 2001:

Research Report for Cotton Boll Weevil Eradication Program Impact on Actual Production History (APH) Yields – (Completed)
Research Report for Multiple Year Coverage – (Completed)
Research Report for Feasibility of Revenue Coverage Plan that Maximize Producer Revenue – (Completed)
Review of MVPrice™ Endorsement – (Completed)
Review of Livestock Risk Protection Underwriting Review – (Completed)
Livestock Gross Margin Insurance Policy Underwriting and Actuarial Review – (Completed)
Applying Data Warehousing, Data Mining, and Data Analysis Techniques Toward Crop Insurance Loss Pattern Analysis Project (Compliance) – (Completed)
CAT Rating Methodology (Subcontractor) – (Completed)

1982 - 2000:

Farm and ranch risk management and financial analysis – Watts and Associates, Inc. regularly assists agricultural clients with ongoing farm and ranch decisions involving income, production, and credit risk management. Watts and Associates, Inc. routinely develops long-run planning scenarios for specific farm operations based on historical production and income and expense history. Further, we analyze historical farm records in relation to regional indicators to assess potential income and production risks.
Expert witness testimony – Watts and Associates, Inc. has provided testimony in more than 350 cases, assisting the legal and business community by providing an economic perspective to the analysis of complex economic and business issues.
Economic damage determination and breach of contract and implied contract – Watts and Associates, Inc. has participated in numerous cases from class action suits to single party suits with damages ranging from $100,000 to $400 million.
Lost profits analysis – Substantial participation in numerous cases.
Case management – Assisting counsel in identifying, locating, and coordinating expert witnesses and developing case strategies.
Franchisee and franchiser litigation – Determination of damages resulting from loss of crop and livestock production in agriculture.
Large-scale tax matters and litigation economics – Participation in numerous cases involving capital gains taxes upon liquidation, estate tax matters, and disputed income taxes - capital gains taxes, inheritance taxes, and income taxes ranging from $50,000 to $500 million.
Business reorganization and bankruptcy – Experience in more than 1,500 restructures and more than 150 reorganization bankruptcies - Chapters 11 and 12.
Discount rate issues – Developed a publication on discount rate issues to assist the legal community in various issues of lost earnings and profits.

Watts and Associates, Inc. - Economic Consultants