Iowa farmers must sign up for new Whole-Farm Revenue Protection policy by March 15

Farmers in Iowa have until March 15 to sign up for the new Whole-Farm Revenue Protection (WFRP) crop insurance program, their first opportunity to enroll in the pilot program approved under the 2014 Farm Bill. The new program expands insurance options for specialty crop, organic, and diversified crop producers.

The mid-March signup deadline also applies to producers in Minnesota and Wisconsin. In some other states, the sales closing date is February 28. WFRP is available in 2015 in 45 states.

The WFRP policy will provide diversified farms a higher premium subsidy for crop insurance than previously available. WFRP offers a whole-farm premium subsidy to farms with two or more commodities that is the same as those provided for single crop policies, as long as minimum diversification requirements are met. Coverage levels can range anywhere from 50 to 85 percent, depending on the level producers feel is appropriate for their businesses.

This new insurance program will be the topic of a presentation Saturday, February 28, at the Midwest Organic and Sustainable Education Service (MOSES) conference in LaCrosse, Wisconsin. The session presenter will be Jeff Schahczenski, Agriculture Policy and Funding Research Director with the National Center for Appropriate Technology (NCAT). Find out more about the conference schedule, or register, at http://mosesorganic.org/conference/

“I have been working on improving whole farm revenue crop insurance for over seven years, so that diversified farmers have the same opportunities to insure their farm risks as conventional farmers,” says Schahczenski. “My colleagues and I at NCAT want to help producers explore the benefits of this new and unique type of crop insurance, as well as to help them prepare for the paperwork requirements. We have also worked with RMA to improve the diversity of crops and livestock products that are important to whole farm premium calculation costs.”

Producers may also want to view:

NCAT’s Midwest Regional Office in Iowa was awarded a Risk Management Education Partnership cooperative agreement through the RMA. More information about the WFRP pilot program is available on the USDA Risk Management Agency website at www.rma.usda.gov.

All federal crop insurance is sold solely through Approved Insurance Providers (AIPs), who are required to offer the WFRP pilot program to all eligible persons in the pilot area.  Producers should contact their agents if they are considering this new way to insure their crop and livestock products.

The parties involved are equal opportunity providers.

 

Sorry, comments are closed for this post.