Revenue Protection

Dry Pea and Dry Bean Crop Provisions and Revenue Endorsement

The approved 2015 CY projected prices shown below are for the Yield Protection, Revenue Protection, and Revenue Protection with Harvest Price Exclusion plans of insurance. The approved 2015 CY volatility factors shown below are for the Revenue Protection and Revenue Protection with Harvest Price Exclusion plans of insurance. The projected prices and volatility factors are applicable for the states, crops, and types indicated in the subsequent tables.

The 2016 CY projected prices shown below are approved for the following plans of insurance: Yield Protection, Area Yield Protection, Revenue Protection, Area Revenue Protection, Revenue Protection with Harvest Price Exclusion and Area Revenue Protection - Harvest Price Exclusion. The 2016 CY volatility factors 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.

Changes for the 2016 crop year to the Whole Farm Revenue Protection (WFRP) plan of insurance included removal of the 35 percent of expected revenue limitation for animals and animal products (livestock) resulting in greater access to WFRP for these producers. Approved Insurance Providers (AIPs) and agents are reminded the WFRP policy requires underwriting capacity to be available for animals and animal products before an application may be accepted. WFRP uses the fund associated with conducting livestock programs, which is $20,000,000 each Fiscal Year.

Common Crop Insurance Policy & Area Risk Protection Insurance1

The 2016 CY projected prices shown below are approved for the Yield Protection, Area Yield Protection, Revenue Protection, Area Revenue Protection, Revenue Protection with Harvest Price Exclusion and Area Revenue Protection - Harvest Price Exclusion plans of insurance. The 2016 CY volatility factors shown below are approved for the Revenue Protection, Area Revenue Protection, Revenue Protection with Harvest Price Exclusion and Area Revenue Protection - Harvest Price Exclusion plans of insurance.

Background

When determining the amount payable for a Whole-Farm Revenue Protection (WFRP) claim, some sources of revenue in addition to direct sales of commodities are included as revenue-to-count. These sources of revenue may reflect income related to the commodities on the farm operation, such as income to compensate the producer for damage to insured commodities other than WFRP indemnities.

Background

The Agricultural Improvement Act of 2018 (Farm Bill) enacted on December 20, 2018, altered the definition of Beginning Farmer or Rancher (BFR) for the purposes of the Whole-Farm Revenue Protection (WFRP) plan of insurance.

The WFRP Pilot Policy currently defines a BFR as:

A farmer or rancher who has not actively operated and managed a farm or ranch with a bona fide insurable interest in a crop or livestock as an owner-operator, landlord, tenant, or sharecropper for more than 5 crop years.

Dry Pea and Dry Bean Crop Provisions and Revenue Endorsement

The approved 2019 CY projected prices shown below are for the Yield Protection, Revenue Protection, and Revenue Protection with Harvest Price Exclusion plans of insurance. The approved 2019 CY volatility factors shown below are for the Revenue Protection and Revenue Protection with Harvest Price Exclusion plans of insurance. The projected prices and volatility factors are applicable for the states, crops, and types indicated in the subsequent tables.

Common Crop Insurance Policy & Area Risk Protection Insurance ¹

Common Crop Insurance Policy & Area Risk Protection Insurance

The 2019 CY projected prices shown below are approved for the following plans of insurance: Yield Protection, Area Yield Protection, Revenue Protection, Area Revenue Protection, Revenue Protection with Harvest Price Exclusion, and Area Revenue Protection with the Harvest Price Exclusion.