🌾Additional Payment II Program for Crop Insurance Providers
Additional Payment II Program
Summary
The Risk Management Agency (RMA), on behalf of the Federal Crop Insurance Corporation (FCIC), is issuing this rule to announce the availability of funding under the Additional Payment II Program (ADD PAY II). ADD PAY II is a one-time additional payment to Approved Insurance Providers (AIPs) administering eligible crop insurance contracts for 2022 and 2023 reinsurance year specialty crops. The total funding available for ADD PAY II is $30 million. Funding for ADD PAY II will be distributed to AIPs proportionally based on their respective liabilities for eligible crop insurance contracts for 2022 and 2023 reinsurance year specialty crops.
Agencies
- Agriculture Department
- Federal Crop Insurance Corporation
Business Impact
$$$ - High
The content pertains to financial assistance through the Additional Payment II Program for Approved Insurance Providers (AIPs) managing crop insurance contracts, with $30 million in funding available. This is directly relevant to business owners in agriculture and insurance sectors, implicating financial support and potential impacts on their operations.