WASHINGTON — The U.S. Department of Agriculture is bettering two of its most complete threat administration security internet applications, Whole-Farm Revenue Protection and Micro Farm, making them extra accessible to America’s agricultural producers.
This contains doubling the utmost insurable income underneath WFRP, now $17 million, greater than tripling the dimensions of farm operations eligible for Micro Farm, now $350,000 and lowering paperwork necessities for WFRP. These enhancements are in direct response to suggestions from stakeholders as USDA’s Risk Management Agency acknowledges the vital position these insurance choices play for a lot of producers, together with specialty crop, natural and direct market producers.
“Listening to farmers and ranchers, learning about their needs and increasing access to resources are all priorities for us at RMA,” mentioned RMA Administrator Marcia Bunger. “Over the past year and a half, we have rolled out a number of improvements to WFRP, as well as introduced the new Micro Farm program, and through updates to Whole Farm Revenue Protection and Micro Farm, RMA can now help even more local food, direct market, specialty crop and organic producers protect their operations.”
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The WFRP program gives safety for all eligible commodities on a farm underneath one insurance coverage. Now, producers can insure as much as $17 million in income (previously $8.5 million).
Other updates to WFRP embrace:
Allowing a producer to report and self-certify yield at the start of the yr for commodities with out different insurance choices in a method just like these with particular person crop insurance policies. This will considerably scale back the quantity of paperwork required to use for WFRP.
Eliminating expense reporting to cut back paperwork burden. In place of expense reporting, WFRP will scale back the anticipated income of commodities a producer is unable to plant to 60%, just like prevented planting for different applications.
These updates construct on others not too long ago made to WFRP, together with expanded protection and flexibilities for natural producers.
The Micro Farm program, supplied by WFRP, gives a threat administration security internet for all eligible commodities on a farm underneath one insurance coverage, however on a smaller scale. Now, producers with farm operations as much as $350,000 in permitted income (previously $100,000) can get protection. RMA launched the brand new Micro Farm program in 2021 to higher serve direct market and small-scale producers.
While this system is properly obtained and suggestions has been largely constructive, trade companions and small, diversified producers have knowledgeable RMA that the present restrict is just too low to fulfill the wants of many producers. In response, the FCIC permitted the rise in dimension for eligible farm operations.
The updates to WFRP and Micro Farm take impact in crop yr 2023.
Crop insurance is offered and delivered solely by non-public crop insurance brokers. An inventory of crop insurance brokers is out there in any respect USDA Service Centers and on-line on the RMA Agent Locator. Learn extra about crop insurance and the trendy farm security internet at rma.usda.gov.
