Business / Agriculture / Revenue Insurance: 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.
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Insurance Verb Synonyms: assurance, surety, indemnity, indemnification, guarantee or guaranty, warranty, bond, security, protection, cover
Revenue Noun Synonyms: (gross) income, proceeds, receipts, return(s), yield, interest, takings, net (income), gate, profits, gain, take
Business / Real Estate / Owners Title Insurance: An insurance policy protecting the buyer for the amount of the purchase price in the event of a future title dispute. MORE
Business / Finance / Participating Life Insurance Policies: Life insurance that pays dividends to policyholders depending on the company's success as provided by few claims and profitable underwritings and investments. MORE