USDA Adds Flexibilities for Crop Insurance
On March 27, USDA’s Risk Management Agency (RMA) released information regarding additional flexibilities for producers working through Approved Insurance Providers (AIPs).
Electronic Notifications Allowed for Required Reports
Producers may send notifications and reports electronically for written agreement issues, acreage and production reporting and upcoming sales closing dates (deadlines to buy crop insurance). Notice of the policyholder’s election may be provided over the phone with appropriate documentation of the call or using electronic methods followed by their confirmation of such election in writing (a signed, or e-signed, form) no later than July 15, 2020.
Production Reporting Date Extended
For the 2020 crop year, AIPs may accept production reports through the earlier of the acreage reporting date (ARD) or 30 days after the production reporting date (PRD) for crops insured under the Common Crop Insurance Policy Basic Provisions with a PRD of March 15, 2020, or later. Generally, the PRD for crops insured under the Common Crop Insurance Policy Basic Provisions is the earlier of the ARD or 45 days after the cancellation date.
Additional Time Given and Interest Deferred on Premium Payments, Written Payment Agreements