Proposed rule issued on new insurance product

The Federal Crop Insurance Corp. (FCIC) has issued a proposed rule regarding Area Risk Protection Insurance (ARPI). The NCC will review the proposed rule and submit comments to the FCIC prior to the Sept. 20 deadline.

The Federal Crop Insurance Corp. (FCIC) has issued a proposed rule regarding Area Risk Protection Insurance (ARPI). The NCC will review the proposed rule and submit comments to the FCIC prior to the Sept. 20 deadline.

ARPI will offer producers a choice of Area Revenue Protection, Area Revenue Protection with the Harvest Price Exclusion or Area Yield Protection.

The new ARPI would replace Group Risk Plan (GRP) provisions for cotton, corn, forage crop, sorghum, soybeans and wheat. In addition, the new ARPI provisions also will replace the Group Risk Income Protection (GRIP). GRP and GRIP were popular Cotton Belt insurance products.

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