Whole-Farm Revenue Protection

Background

The Risk Management Agency has been asked whether Federal Crop Insurance Corporation (FCIC) published prices released in the latter part of the prior policy year can be considered appropriate when establishing an expected value for a commodity under WFRP when the prices for that commodity have declined prior to the application for WFRP. The WFRP Pilot Policy provides direction on how to address this situation.

As of August 31, 2023 the following information is now available on the FTP site:

• 2024 Actuarial Data Master for the 8/31, 10/31 Filing Date, YTD, and Daily Files.
• 2024 Special Provisions for the 8/31, 10/31 Filing Date.

Users can find this information in the following directories:

• 2024 Actuarial Data Master are in the References/Actuarial_Data_Master/2024 directory.
• 2024 Special Provisions are in the Special_Provisions/2024 directory.

Additional notes and details regarding this data release:

Background

The Agricultural Improvement Act of 2018 (Farm Bill) included language to improve the effectiveness of WFRP. The Risk Management Agency (RMA) continues to solicit stakeholder recommendations. In response to feedback from local foods producers, grower organizations, and industry partners including approved insurance providers and agent organizations, RMA recommended changes to WFRP and Micro Farm to the Federal Crop Insurance Corporation (FCIC) Board of Directors (Board).

As of August 16, 2023 the following information is now available on the FTP site:

• 2024 Actuarial Data Master for the 8/31, 9/30, 10/31 Filing Date, YTD, and Daily Files.
• 2024 Special Provisions for the 8/31, 9/30, 10/31 Filing Date.

Users can find this information in the following directories:

Background

Farmers and ranchers are facing natural disasters in many parts of the nation causing catastrophic damage to crops. Concerns have been expressed about the requirement to pay crop insurance premiums timely to avoid accrual of interest.

Common Crop Insurance Policy & Area Risk Protection Insurance 1

The 2022 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.

Common Crop Insurance Policy ¹

The 2023 CY projected prices shown below are approved for the Yield Protection, Revenue Protection, and Revenue Protection with Harvest Price Exclusion plans of insurance. The 2023 CY volatility factors shown below are approved for the Revenue Protection and Revenue Protection with Harvest Price Exclusion plans of insurance. The projected prices and volatility factors are applicable for the crops, types, practices, sales closing date, and states indicated in the following table.

Common Crop Insurance Policy ¹

The 2022 CY harvest prices shown below are approved for the following plans of insurance: Revenue Protection and Revenue Protection with Harvest Price Exclusion. The harvest prices are applicable for the crop, sales closing date, states, and practices indicated in the following table.