Yesterday, USDA announced the availability of a new whole-farm revenue policy, known as Whole-farm Revenue Protection (WFRP). WFRP will replace Adjusted Gross Revenue (AGR) and Adjusted Gross Revenue-Lite (AGR-Lite) starting in the 2015 crop insurance year. The new policy was required by the 2014 Farm Bill and developed by the USDA’s Risk Management Agency (RMA). WFRP will enable producers to insure their crops, livestock, and nursery and greenhouse crops for a revenue loss with a single policy rather than using individual crop policies. For many specialty crop and diversified producers, individual policies and price elections were not available. This put producers at a risk management disadvantage but also made it more difficult for them to access the credit needed to start and grow their agricultural operation.
WFRP at a Glance:
• Coverage levels up to 85% with an $8.5 million liability limit • 80% of the premium will be subsidized for coverage between 50% and 70% • Provides coverage for all unavoidable natural causes (pest, weather, price loss, etc) • Premium discounts for additional diversification up to 7 crops • Allows post-production expenses that do not add value to the crop to be covered • Geographic expansion of whole-farm insurance availability
We recorded our small farm risk management webinars for a (literal) rainy day. / Hemos grabado los seminarios sobre la gestión de riesgos para los granjeros (literalmente) para un día de lluvia. Podrás reproducir los videos en el sitio web de RAFI.
A farmer’s ability to receive assistance for disaster losses depends in large part on his or her ability to demonstrate the extent of those losses. This guide helps farmers understand how to document the impact of disasters on their farms and apply for assistance.