Crop insurance for hemp production will be available for the 2020 crop year via the Whole-Farm Revenue Protection (WFRP) program, according to USDA’s Risk Management Agency (RMA).
Producers can obtain WFRP coverage for hemp now if they are part of a Section 7606 state or university research pilot as authorized by the 2014 Farm Bill. Other producers cannot obtain coverage until a USDA-approved plan is in place. But USDA has not completed the rulemaking process on the hemp provisions in the 2018 Farm Bill, with plans to finalize the rules this fall.
WFRP allows coverage of all revenue for commodities produced on a farm up to a total insured revenue of $8.5 million. The 2018 Farm Bill amended the Controlled Substances Act to address how industrial hemp is to be defined and regulated at the federal level.
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