Group Risk Income Protection (GRIP) plan of insurance provides protection against an unexpected decline
in revenues, whether due to low yields, low prices, or a combination thereof. GRIP combines the yield
coverage of the Group Risk Plan (GRP) with price protection similar to the
Revenue Assurance (RA) and Crop
Revenue Coverage (CRC) policies. GRIP, RA and CRC use commodity futures prices from various commodity
exchanges in areas around the country.
GRIP coverage can be enhanced if the producer selects the Harvest Revenue Option (HRO), which provides
upside harvest price protection when the final county yield is less than the expected county yield and the
harvest price is greater than the expected price. The GRIP product is available in all counties offering
GRP. Beginning with 2006, the price discovery periods for determining base prices for GRIP were made
consistent with the price discovery periods for CRC.
GRIP is available in selected states and counties for corn, cotton, grain sorghum, soybeans, and wheat.
See also:
PDF files:
2009
2008
2007
<="2006">2006
2005
Archives
For more information, contact Bill Klein or Ben Thiel.
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