Group Risk Income Protection (GRIP) (Plan 06)

Group Risk Income Protection (GRIP) (Plan 06 Like GRP, GRIP is based on the experience of the county rather than individual farms, so while maintaining the insured’s actual production history is encouraged, it is not required for this program. A GRIP policy includes coverage against potential loss of revenue resulting from a significant reduction in the county yield or commodity price of a specific crop. When the county yield estimates are released, the county revenues will be calculated. An indemnity is due under GRIP when the county revenue published by FCIC is less than the trigger revenue. Since this plan is based on county revenue and not individual revenue, the insured may have a loss in revenue on their farm and not receive payment under GRIP. The Harvest Revenue Option (HRO) Endorsement is available for GRIP (see below).

GRIP with the Harvest Revenue Option (GRIP HRO) (Plan 05)

GRIP with the Harvest Revenue Option (GRIP HRO) (Plan 05) GRIP HRO is GRIP but with an added Harvest Revenue Option. For additional premium, this option offers “upside” harvest price protection by valuing lost bushels at the harvest price in addition to the coverage offered under GRIP. GRIP HRO will pay a loss when the county revenue is less than the HRO trigger revenue which is calculated using the higher of the projected price or harvest price.