Band Revenue Protection (BRP) is a non-federally reinsured supplemental product that allows a producer to elect either Revenue Protection (RP) or Yield Protection (YP) bands of coverage at higher coverage levels than those offered through the Multi-Peril Crop Insurance (MPCI) program.

Why BRP?

  • Protects against a decline in markets or yields.
  • Aids in increased coverage needed for lending purposes.
  • Simple addition to MPCI policy and overall risk management toolbox.
  • Individual Actual Production History (APH) and production used to determine indemnity.
  • Losses paid at harvest time. No need to wait for county yields to determine indemnity.
  • Provides several options to tailor to the producer’s risk profile.
MyYield | Add the cherry on top of your risk management plan by combatting one of the common struggles of the APH – an outdated average that stifles your guarantee. The MyYield endorsement can be added to soybean coverages on our band products (BRP, MyECO and MySCO), allowing farmers to use their highest yield for each unit in the last 10 years to determine their guarantee, versus using their 10-year average. Tag MyYield on to your endorsement so your coverage truly reflects your operation!

Available Options

  1. Producer may elect to insure either a single practice (IRR or NI) or both practices on the policy.
  2. Lower Coverage Level: Lower limit of the band coverage and must be greater than or equal to the RP, RP-HPE or YP elected coverage level. When ECO and/or SCO is also elected on the MPCI policy, the lower coverage level will be the maximum level of the ECO and/or SCO coverage.
  3. Upper Coverage Level: Upper limit of the band coverage. The maximum band election allowed will be 10%.
  4. Harvest Price Decline: An elected percentage that will set the minimum Harvest Price to be used in determining the Revenue to Count when electing RP coverage. The minimum Harvest Price allowed for BRP is calculated in the following way: Minimum Harvest Price = Projected Price (1 – Harvest Price Decline)
  5. Adjustment Factor: A value less than or equal to 1.0. Selecting a value which is less than 1.0 means that your limit of insurance, premium and loss payment will be reduced by this selected value.
  6. MyYield: Available option when electing BRP coverage on Soybeans. The MyYield election replaces your APH with your Maximum Yield as defined in the MyYield Endorsement of the BRP policy provisions

 

If you are interested in electing or selling BRP coverage, email info@hudsoncrop.com.

 

The information contained in this publication is for general purposes only and shall not modify the terms of any insurance policy.

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