🌾Analysis of Crop Insurance Regulation Changes and Business Impact
Risk Management Agency (RMA), on behalf of the Federal Crop Insurance Corporation (FCIC), is in the process of reviewing all regulations within its purview to reduce regulatory burdens and costs. Pursuant to this review, FCIC has identified obsolete, unnecessary, and outdated provisions in title 7 of the Code of Federal Regulation (CFR). FCIC is removing these provisions to streamline and clarify the dictates of title 7. The changes in this rule will reduce confusion for FCIC customers but otherwise the changes will have no impacts to insurance coverage for past or present FCIC customers.
Learn More🌾Streamlining Crop Insurance Regulations
Risk Management Agency (RMA), on behalf of the Federal Crop Insurance Corporation (FCIC), is in the process of reviewing all regulations within its purview to reduce regulatory burdens and costs. Pursuant to this review, FCIC has identified the following obsolete, unnecessary, and outdated provisions in title 7 of the Code of Federal Regulation (CFR). FCIC is removing these provisions to streamline and clarify the dictates of title 7. The changes in this rule will have no impacts on past or present FCIC customers.
Learn More🌾Additional Payment II Program for Crop Insurance Providers
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.
Learn More🌾USDA Ends Race and Sex-Based Preferences in Assistance Programs
The U.S. Department of Agriculture (USDA) has independently determined that it will no longer employ the race- and sex-based "socially disadvantaged" designation to provide increased benefits based on race and sex in the programs at issue in this regulation. The USDA has faced a long history of litigation stemming from allegations of discrimination in the administration of its farm loan and benefit programs. However, over the past several decades, USDA has undertaken substantial efforts to redress past injustices, culminating in comprehensive settlements, institutional reforms, and compensatory frameworks. These actions collectively support the conclusion that past discrimination has been sufficiently addressed and that further race- and sex-based remedies are no longer necessary or legally justified under current circumstances.
Learn More🌾USDA Requests Comments on Crop Insurance Information Collection
This notice announces a public comment period on the information collection requests (ICRs) associated with the interpretations of provisions of the Act or any regulation codified in the Code of Federal Regulations, and interpretations of policy provisions not codified in the Code of Federal Regulations or any procedure used in the administration of the Federal crop insurance program.
Learn More🌾Flax Revenue and Crop Insurance Regulatory Update
The Federal Crop Insurance Corporation (FCIC) is reopening the comment period for 30 days to allow the public additional time to provide comments on our regulation that allowed revenue coverage for flax under the Small Grain Crop Insurance Provisions, combined written agreement deadlines in the Dry Bean Crop Insurance Provisions to match other insurance policies, expanded the availability of enterprise and optional units for some specialty and perennial crops, and made clarifications and corrections to the Area Risk Protection Insurance, Basic Provisions; Common Crop Insurance Policy, Basic Provisions; and several Crop Provisions published on November 27, 2024 and effective on November 30, 2024.
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