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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 ...
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").
The USDA worked with 13 privately held insurance companies to provide 1.2 million crop insurance policies at a cost of $17.3 billion in 2022, said the report from the Government Accountability ...
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 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 Minister of Agriculture and Agri-Food is responsible for the Canadian Grain Commission. The Commission is governed by the Canada Grain Act (R.S.C. 1985, c. G-10), which provides for the appointment of three commissioners by the federal cabinet, one of whom is named chief commissioner.