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Group Risk Income Protection

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 and uses 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 for corn, cotton, grain sorghum, soybeans, and wheat all counties offering GRP.

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*Farm Bill Amendment (09-Farm Bill) modifies the Group Risk Plan of Insurance Basic Provisions and the Group Risk Income Protection Plan of Insurance Basic Provisions for the 2009 crop year for all crops with a 2009 contract change date on or after Nov 30, 2008, and for the 2010 crop year for all crops with a 2010 contract change date prior to Oct 31, 2009.

**Sanctions Amendment modifies the Group Risk Income Protection Plan of Insurance Basic Provisions for the 2010 and succeeding crop years.

***Farm Bill Amendment (10-Farm Bill) modifies the Group Risk Plan of Insurance Basic Provisions and the Group Risk Income Protection Plan of Insurance Basic Provisions for the 2010 and succeeding crop years for all crops with a 2010 contract change date on or after Oct 31, 2009, and for the 2011 and succeeding crop years for all crops with a 2010 contract change date prior to Oct 31, 2009.

Contact Information

For more information, contact Ben Thiel.