Definition of Group Risk Protection (GRP)

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TeachMeFinance.com - explain Group Risk Protection (GRP)



Group Risk Protection (GRP)

The term 'Group Risk Protection (GRP) ' as it applies to the area of agriculture can be defined as ' A form of crop insurance available in certain parts of the country that makes an indemnity payment to all participating crop farmers in a particular area when the entire countyís crop production is a certain percentage below the normal production level of the county. This differs from the basic crop insurance program that makes payments to participating farmers when the individual farmerís own crop yield is less than the producerís normal yield'.

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Group name
Group of Seven (G-7)
Group Or Network Hmo
Group quarters
Group Risk Income Protection (GRIP)
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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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