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TeachMeFinance.com - explain Revenue insurance Revenue insurance The term 'Revenue insurance ' as it applies to the area of agriculture can be defined as 'A crop insurance program that provides coverage to producers against lost revenues (or incomes) caused by low prices, low yields, or a combination of low prices and low yields. An indemnity is paid to a producer when any combination of yield and price results in revenue that is less than a pre-specified revenue guarantee. The FAIR Act of 1996 mandates a USDA pilot program for crop years 1997-2000 under which producers of feed grains, wheat, soybeans, and other crops in specified areas may elect to receive insurance against loss of revenue. The two largest pilot programs to date are the Crop Revenue Coverage (CRC) program and the Income Protection (IP) program. The two programs are similar, except that the CRC allows farmers to insure their revenue at either planting-time prices or harvest prices, whichever is higher. The full cost of the premium associated with CRC and IP is paid by the participating farmer'. Previous 5 Terms: Revelle factor Revenue Revenue - (electricity) Revenue Assurance (RA) Revenue Code Next 5 Terms: Revenue requirement Reverse Current Protection reverse osmosis Reverse transcriptase Reversible turbine About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.