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The 2016 CY harvest prices shown below are approved for the following plans of insurance: Revenue Protection; Area Revenue Protection; Revenue Protection with Harvest Price Exclusion; and Area Revenue Protection - Harvest Price Exclusion. The harvest prices are applicable for the crops, sales closing dates, states, practices and types indicated in the following table.
The Risk Management Agency (RMA) has revised the Area Risk Protection Insurance (ARPI) Basic Provisions (17-ARPI) and ARPI Forage Production Crop Provisions (17-ARPI-0033) for the 2017 and succeeding crop years. The provisions were revised to do the following:
Common Crop Insurance Policy 1
Dry Bean and Dry Pea Revenue Endorsement Harvest Prices1
The 2020 CY harvest prices shown below are for the Revenue Protection and Revenue Protection with Harvest Price Exclusion plans of insurance. The harvest prices are applicable for the crops, types, and states with a March 15, 2020, sales closing date.
Common Crop Insurance Policy & Area Risk Protection Insurance 1, 2
The Risk Management Agency (RMA) was asked whether WFRP provides coverage of preexisting causes of loss on a farm operation. As with most Federal Crop Insurance Corporation policies, the WFRP policy has a list of insured and uninsured causes of loss during the insurance period. The WFRP policy also has requirements for producers to identify any damage to annual and perennial commodities insured under WFRP. Once a pre-existing condition or damage is identified, adjustments to the expected revenue is required via the Farm Operation Report to account for such damage.
On November 19, 2020, RMA released the 2021 Enhanced Coverage Option Endorsement (21-ECO) and 2021 Enhanced Coverage Option Insurance Standards Handbook (FCIC-24400) on the RMA website. ECO provides area-based coverage for a portion of the policyholder’s underlying policy deductible like the Supplemental Coverage Option (SCO). The underlying policy must be under the Basic Provisions of the Common Crop Insurance Policy –Yield Protection, Revenue Protection, Revenue Protection with the Harvest Price Exclusion, Yield Based Dollar Amount of Insurance, and APH policies.
Common Crop Insurance Policy & Area Risk Protection Insurance 1,2
The 2020 CY harvest prices shown below are approved for the following plans of insurance: Revenue Protection, Area Revenue Protection, Revenue Protection with Harvest Price Exclusion and Area Revenue Protection – Harvest Price Exclusion. The harvest prices are applicable for the crops, practices, sales closing dates and states indicated in the following table.
To ensure actuarial soundness, the Whole Farm Revenue Protection (WFRP) policy is not available to producers with a Catastrophic Risk Protection (CAT) policy for any crop that would be insurable under WFRP. Questions have been raised regarding producers that have a CAT policy in effect for winter wheat in counties where spring wheat is not insurable and no wheat was planted during the planting period for winter wheat. The relevant section of the WFRP policy is stated below. Section 3 of the WFRP Basic Provisions states the following:
