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Risk Management Agency Officials Invite PIA National to Discuss PRP Risk

On Thursday, November 4, PIA National staff met with the U.S. Department of Agriculture's Risk Management Agency (RMA) staff David Hatch, Associate Administrator, and Craig...
November 9, 2004

On Thursday, November 4, PIA National staff met with the U.S. Department of Agriculture's Risk Management Agency (RMA) staff David Hatch, Associate Administrator, and Craig Witt, Director of Reinsurance, to discuss concerns with the Premium Reduction Plan (PRP).  Given that PRP is currently the law in federal crop insurance and that RMA/FCIC has received an unexpected and large number of requests for PRP filings, this meeting came as a request from Mr. Hatch to gather the insight of PIA National staff and its members. PIA stressed that we want a fair and equitable process and structure for any insurance provider offering crop insurance. In response to our asking what issues RMA/FCIC are confronting in this round of PRP reviews and approvals, we were pleased to learn that RMA will be issuing a series of issue-inquiries to the insurance sector and inviting our comments and suggestions as to how the process can be improved to better assure soundness and fairness.

What It Means to Agents:  We'll be working with PIA affiliates and members for which federal crop insurance is of major importance in developing and filing our comments.

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