USDA releases crop insurance agreement

USDA’s Risk Management Agency (RMA), which administers the Federal crop insurance program, has released a second draft of a proposed new Standard Reinsurance Agreement (SRA), which establishes the terms, roles, and responsibilities for both the USDA and insurance companies that participate in the Federal crop insurance program. The first draft was released Dec. 4, 2009. The new draft includes a series of significant changes, including many discussed during negotiations between the RMA and the participating crop insurance companies.