Discuss the two new types of crop insurance programs which were introduced in the Agricultural Act of 2014.

With price loss coverage, farmers who pay the insurance premium are guaranteed an insurance payment if the price of their crop falls below a specified value, such as $3.50 per bushel of wheat. Agricultural risk coverage depends on the total revenue generated by all of the farmers in a given county who plant the same crop in a given year. The program makes insurance payments to participating farmers if the total revenue collectively received by all the farmers planting the crop in the county falls below a specific value, such as $150 million for corn producers in Kossuth County, Iowa.