Whole-Farm Revenue Protection Analysis: A Few Bad Apples
It has been almost eight years since the 2014 Farm Bill created the Whole-Farm Revenue Protection (WFRP) insurance pilot to succeed the Adjusted Gross Revenue (AGR) and AGR-lite programs. WFRP has been championed by the National Sustainable Agriculture Coalition (NSAC) for its potential to encourage diversification and level the playing field for producers underserved by other federal crop insurance options. Unfortunately, due to overly complicated rules, skepticism from some farmers, and disinterest from many insurance agents, WFRP is not performing near its optimal potential.
WFRP is a novel crop insurance product that offers producers nationwide the option to insure the revenue of their entire operation, including crop, livestock, and nursery production under a single policy. It also includes a built-in insurance premium discount for crop and enterprise diversification considering its inherent risk reduction impact.
Additional information about the program can …