November 22, 2000

USDA has announced new and expanded revenue programs approved by the Federal Crop Insurance Corporation. The pilot Adjusted Gross Revenue (AGR) program, also known as whole farm revenue insurance, is being expanded into 126 counties and independent cities in eight states-Delaware, Maryland, Michigan, New Jersey, New York, Oregon, Virginia, and Washington.

Contributors of data that led to adding the new counties include growers, grower associations, state Farm Bureaus, Farm Credit system lenders, State departments of agriculture, USDA agencies, reinsured companies, extension agents, extension specialists, and universities.

Besides expansion into more counties, AGR policy changes allow a payment rate option of 90% in addition to 75% and make it easier for producers to qualify for coverage. The AGR sales closing date is Jan. 31.

The pilot MVPrice™ Endorsement, developed by American Agrisurance, Inc., was approved as a supplement to the Multiple Peril Crop Insurance (MPCI) policy for rice-growing counties in Arkansas for the 2001 crop year. The endorsement provides an additional price above the MPCI price election for rice, determined by multiplying the percentage increase in the harvest price over the base price during the crop year by the MPCI price election, not to exceed 2 cents per pound.

Also, the board approved IGF Insurance Company's requested changes for the Group Risk Income Protection (GRIP) program. GRIP is available to corn and soybean producers in Illinois, Indiana, and Iowa and provides both yield and price protection on a county basis. The primary change is the release of the expected price amount for the crop year on March 1 instead of March 15.

Producers should contact a crop insurance agent to discuss their options. A list of agents is available at local Farm Service Agency offices or at the RMA website: http://www3.rma.usda.gov/tools/agents/.