AREC Extension

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Report on Outreach Efforts
(2016-09-13) Leathers, Howard; Goeringer, Paul
Current Crop Insurance and Federal Policy Situation
(2016-09-13) Frerichs, Stephen
Crop Insurance Option for Diversified Operations: Whole Farm Revenue Protection
(2016-05-11) Goeringer, Paul; Leathers, Howard
The 2014 Farm Bill authorized USDA’s Risk Management Agency (RMA) to develop a new type of revenue insurance product: Whole-Farm Revenue Protection (WFRP). WFRP provides a risk management tool for all commodities on farms with up to $8.5 million in insured revenue. WFRP is not intended for one specific crop such as corn, wheat, or soybeans like traditional revenue and yield insurance products, but is intended to cover all crops and livestock grown on a farm. This new product has replaced the Adjusted Gross Revenue (AGR) and Adjusted Gross Revenue-Lite policies.
A Primer on Crop Insurance
(2015-08) Leathers, Howard; Goeringer, Paul
Fundamentally, risk management on a farm is aimed at smoothing out the income or profit stream over time. This is accomplished by accepting lower incomes or profits during good times in exchange for higher incomes or profits during bad times. Crop insurance is an important tool for risk management. This paper describes comprehensively the details about how crop insurance works. Because crop insurance uses futures market prices in some important ways, the paper also briefly reviews how futures markets operate.