Diversified farmers in Iowa and Nebraska will now have access to a improved crop insurance option with USDA’s release Thursday of the new Whole-Farm Revenue Protection (WFRP) crop insurance policy.

This will be the first time that many farmers will have access to affordable crop insurance that provides flexible and comprehensive revenue coverage for their whole farm.

WFRP is a new policy called for in the 2014 Farm Bill and developed by the USDA’s Risk Management Agency (RMA) that will allow farmers to insure all of their crops, livestock, and nursery and greenhouse crops for a revenue loss with a single policy rather than using individual crop policies. It is being offered initially as a pilot policy.

For many diversified farmers, including sustainable and organic farmers, individual policies and price elections are often not available either for the crops being grown or in the county they are being grow in.

Additionally, on highly diversified farms, where only a small amount of some crops or livestock is grown or raised, purchasing several separate polices often doesn’t make financial sense.

WFRP will be available in 44 states, more states than either of the two previously available whole farm type policies, Adjusted Gross Revenue (AGR) or AGR-Lite.

Farmers in Indiana, Kentucky, Missouri, North Dakota, Ohio and South Dakota, will also be able insure their entire farm revenue with one policy.

Source - http://www.wowt.com/