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PIA Reviewing Latest Draft of Crop Reinsurance Agreement

On Thursday, May 20, the Risk Management Agency of USDA released the 3rd draft of Standard Reinsurance Agreement. Many of PIA's suggested improvements have been...
May 25, 2004

On Thursday, May 20, the Risk Management Agency of USDA released the 3rd draft of Standard Reinsurance Agreement. Many of PIA's suggested improvements have been included in this most recent draft after PIA had multiple meetings with the USDA Risk Management Agency (RMA) staff, industry, Members of Congress and state governors and submitted comments following the release of the 2nd draft.  Some of the improvements include further reduction in the decrease amount to the A&O and increases in the state assessment ceilings for distressed states.

What it Means to Agents:  RMA has said they hope this will be the third and final draft of the SRA. Minor changes may still be made, however, and PIA will continue to have discussions with RMA staff and other interested parties to ensure the best possible SRA for independent agents.  PIA is reviewing the full impact and will keep PIA members advised of the full extent of the agreement.

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