A new “risk management tool” that insurers are offering in Kansas and most of Colorado has been set up to “insure against farm revenue fluctuations.” The name of the federally subsidized plan is Adjusted Gross Revenue-Lite. The program covers “almost all farm-raised crops, animals, and animal products.”
The U.S. Department of Agriculture “will pay a portions (subsidy) of the premium for the AGR-Lite policy that equals 48 percent, 55 percent, and 59 percent of the total premiums for the coverage levels of 80 percent, 75 percent, and 65 percent respectively.” Sounds like a heck of a subsidy to me. I wonder what the premiums on a policy like this come out to?