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In Canadian agricultural policy, a Gross Revenue Insurance Plan (GRIP) is a form of direct payment combining a crop insurance component and a revenue protection component. Farmers finance one-third of the premiums paid out under the revenue protection component. The GRIP makes payments when market revenue falls short of a producer’s target ...
In United States agricultural policy, Group Risk Income Protection (GRIP) is a county-based revenue insurance program that is a variation of Group Risk Protection (GRP). ). GRIP pays a participating producer when the county revenue per acre for an insured crop falls below a trigger revenue selected by the insured producer, regardless of the actual revenue level of the individual pro
AgriCorp was created as a provincial crown corporation [1] in 1997 under the authority of the AgriCorp Act, 1996 (S.O. 1996, CHAPTER 17, Schedule A) [2] with the object of administering crop insurance under the Crop Insurance Act (Ontario), 1996. Specifically, Agricorp was given the capacity and powers to establish and collect fees and service ...
Agriculture and Agri-Food Canada (AAFC; sometimes Ag-Canada; French: Agriculture et Agroalimentaire Canada) [NB 1] is the department of the Government of Canada responsible for the federal regulation of agriculture, including policies governing the production, processing, and marketing of all farm, food, and agri-based products.
Crop insurance is insurance purchased by agricultural producers and subsidized by a country's government to protect against either the loss of their crops due to natural disasters, such as hail, drought, and floods ("crop-yield insurance"), or the loss of revenue due to declines in the prices of agricultural commodities ("crop-revenue insurance").
Crop Revenue Coverage (CRC) is a form of revenue insurance that protects a producer's revenue for an insurable crop whenever low prices, low yields, or a combination of both causes revenue to fall below a guaranteed level selected by the producer.
The Risk Management Agency (RMA) was created in 1996 by the Federal Agriculture Improvement and Reform Act of 1996 to operate and manage the Federal Crop Insurance Corporation (FCIC). The FCIC was created in 1938, during the Great Depression , to provide insurance for farmers to allow them to profit from crop production even under difficult ...
Group Risk Protection (GRP) is a form of crop insurance available in certain parts of the United States. GRP makes an indemnity payment to all participating crop farmers when the entire county's crop production is a certain percentage below the normal production level of the county.