| Webster's Online Dictionary |
| Expressions | Domain | Definition | |
| Group Risk Income Protection | Agriculture | A county-based revenue insurance program, that is a variation of Group Risk Protection (GRP). GRIP pays a participating producer when the county revenue per acre for an insured crop falls below a trigger revenue selected by the insured producer, regardless of the actual revenue level of the individual producer. It is available on a limited basis where GRP is currently available. (GRIP). (references) | |
| Income Protection | Agriculture | A form of revenue insurance that protects a grower of an insurable crop whenever low prices, low yields, or a combination of both causes revenue to fall below a guaranteed level selected by the producer. (IP). (references) | |
| Income Protection (IP) | Risk | An insurance plan that protects against reductions in gross income when yields or prices fall. The plan was developed using components from existing crop insurance programs. The multi-peril program protects against loss of production using the actual production history program and forms the foundation for income protection. The insurance unit is taken from the group risk plan. Combined these components form a straightforward product for the protection of a percentage of gross income. (references) | |
Source: compiled by the editor from various references; see credits. | Top | ||
