(Total Views: 608)
Posted On: 03/03/2020 4:35:03 PM
Post# of 74803
Special Farm Policies (SFP’s) do not cover crops. That falls under the Crop Insurance portion of the insurance portfolio for the farm. When it comes to Hemp crops right now the standard crop insurance outlets are NOT issuing coverages for hemp crops. Currently there are 2 ways to insure Hemp crops right now and that is through an APH pilot program (issued by feds) and those pilot programs are in Kansas, Colorado, Oklahoma and Texas. Nebraska was not selected even though they issued 400 grow permits in January. The other avenue is through the Whole Farm Revenue Protection Program of which the farmer has to utilize tax returns etc. to dictate payout in case of a loss. Basically if hemp crop is destroyed it is going to take some time before insurance would pay out on this program. My information was gathered from the regional office that handles the crop insurance in the Midwest. I do not know if other permits were issued in other regions of the U.S. My question then becomes is crop insurance available in Puerto Rico and did their region issue a Pilot Program in Puerto Rico or not?
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