Crop Insurance Today Fourth Quarter 2022 - 31

PLAN COMPARISON
The NCIS Crop Insurance Plan Comparison (CIPC) has been updated for the 2023 crop year and is current as of November 2022. This popular
NCIS product is designed for use as a quick reference job aid for crop insurance company personnel, crop insurance agents, and producers alike.
The CIPC is a thorough, yet compact list of major crop insurance plans of coverage. It includes a general overview and a side-by-side
comparison of the available insurance products which are available on a national or almost-national basis.
The products and product topics summarized in this chart are NOT all-encompassing and do NOT substitute for the policy provisions. See the
policy provisions and/or contact your company for a complete description of the available coverages and their terms and conditions.
Area Yield
Protection
AYP - Plan 04
AYP coverage is based on the experience
of the county rather than individual
farms. Maintaining the insured's actual
production history is now mandatory
and may be used by the U.S. Department
of Agriculture Risk Managment Agency
(RMA) as a data source to establish
and maintain the area programs. AYP
indemnifies the insured in the event
the final county yield falls below the
insured's trigger yield. The Federal Crop
Insurance Corporation (FCIC) will issue
the final county yield in the calendar year
following the crop year insured. Since
this plan is based on county yields and
not individual yields, the insured may
have a low yield on their farm and not
receive payment under AYP.
Area Revenue
Protection
ARP - Plan 05
Like the other area plans, ARP is based
on the experience of the county rather
than individual farms. Coverage is
provided against loss of revenue due
to a county level production loss, a
price decline, or a combination of
both. Upside harvest price protection
is included which increases the policy
protection at the end of the insurance
period if the harvest price is greater
than the projected price and if there
is a production loss. ARP will pay a
loss when the final county revenue is
less than the trigger revenue which
is calculated using the higher of the
projected price or harvest price.
Area Revenue
Protection w/Harvest
Price Exclusion
ARP-HPE - Plan 06
Like AYP, ARP-HPE is based on the
experience of the county rather than
individual farms. Maintaining the
insured's actual production history is
now mandatory and may be used by RMA
as a data source to establish and maintain
the area programs. An ARP-HPE policy
provides protection against loss of
revenue due to a county level production
loss, price decline, or a combination of
both. This plan only uses the projected
price and does not provide upside
harvest price protection. An indemnity
is due under ARP-HPE when the final
county revenues published by FCIC are
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 ARP-HPE.
Actual Production
History
APH - Plan 90
APH is the oldest insurance product listed
on this comparison. The APH plan of
insurance provides protection against a loss
in yield due to nearly all natural disasters.
For most crops, that includes drought,
excess moisture, cold and frost, wind, flood
and unavoidable damage from insects and
disease. Like YP, the APH plan of insurance
guarantees a yield based on the individual
producer's actual production history.
Unlike YP, the available price elections are
established by RMA. An indemnity is due
when the value of the production to count
is less than the liability. Of the small grain
crops, only oats, rye, flax, and buckwheat
remain covered under the APH plan of
insurance.
CROPINSURANCE TODAY®
29

Crop Insurance Today Fourth Quarter 2022

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