Revenue Protection

Revenue Protection

David Sparks Ph.D.
David Sparks Ph.D.
USDA Announces Whole-Farm Revenue Protection Insurance Roll-Out

 

USDA's Risk Management Agency announced the release of the Whole-Farm Revenue Protection program for the 2015 crop year. The 2014 Farm Bill gave RMA broad flexibility to implement a new whole-farm crop insurance policy. 

 

The WFRP combines two popular and well-known plans of insurance in the Pacific Northwest, Adjusted Gross Revenue Pilot (AGR) and Adjusted Gross Revenue-Lite (AGR-Lite). RMA spokesperson, Jo Lynne Seufer: Policy enhancements include an expanded range of coverage levels, coverage for replanting, provisions that increase coverage for expanding operations, a higher maximum amount of coverage and the inclusion of market readiness costs in the coverage. WFRP is tailored for any farm with up to $8.5 million in insured revenue, including farms with specialty or organic commodities (both crops and livestock).

 

WFRP is available in 45 states, including Alaska, Idaho, Oregon and Washington. The whole-farm premium subsidy is available to farms with two or more commodities that meet minimum diversification requirements. Producers can purchase WFRP in conjunction with individual crop policies as long as those policies are at a buy-up coverage level.

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