PRODUCT MANAGEMENT BULLETIN: PM–22-051
United States Department of Agriculture
Farm and Foreign Agricultural Services
Risk Management Agency
1400 Independence Avenue, SW
Washington, DC 20250-0801
All Risk Management Agency Field Offices
All Other Interested Parties
The Agricultural Improvement Act of 2018 (Farm Bill) included provisions to improve the effectiveness of WFRP. Per the Farm Bill, the Risk Management Agency (RMA) has continued to solicit stakeholder recommendations. In response to stakeholder feedback from approved insurance providers, agent organizations, and producer groups, RMA recommended changes to WFRP to the Federal Crop Insurance Corporation (FCIC) Board of Directors (Board). In addition, RMA worked with stakeholders to identify improvements to the Micro Farm program and recommended a change to that program to the Board.
On August 18, 2022, the Board approved the following changes to the WFRP plan of insurance and the Micro Farm program, applicable for the 2023 and succeeding policy years:
- Increase the maximum insurable revenue for WFRP from $8.5 million to $17 million, allowing more producers to participate in the program;
- Replace existing expense reporting procedures with a 40% reduction in expected revenue for commodities which cannot be planted due to insurable causes. This reduction results in a similar value to prevented planting payments for other FCIC reinsured programs while reducing the total amount of paperwork required for the policy;
- Adjust yield reporting requirements at the sales closing date to streamline record keeping and reduce overall paperwork; and
- Increase the maximum approved revenue for the Micro Farm program from $100,000 to $350,000, addressing stakeholder concerns that the low maximum approved revenue was limiting access to Micro Farm for local foods producers.
The following materials will be available by close of business today on the RMA website at www.rma.usda.gov:
- Whole-Farm Revenue Protection Pilot Policy (23-0076)
- Micro Farm Policy (23-MF-WFRP)
- WFRP National Fact Sheet
- Micro Farm National Fact Sheet
- WFRP FAQ page
Approved insurance providers must notify policyholders of these changes at least 30 days prior to the cancellation date, as required by the policy.
Interested producers should contact a crop insurance agent for further information. A list of agents can be found on the RMA website at www.rma.usda.gov/Information-Tools/Agent-Locator-Page.
December 31, 2023