WASHINGTON, DC – USDA’s Risk Management Agency (RMA) is authorizing Approved Insurance Providers (AIPs) to extend deadlines for premium and administrative fee payments, defer the resulting interest accrual and allow other flexibilities to help farmers, ranchers, and insurance providers due to the COVID-19 pandemic.
Specifically, the RMA is providing policyholders additional time to pay premium and administrative fees and to waive accrual of interest.
In addition, USDA is authorizing AIPs to provide up to an additional 60 days for policyholders to make payment and waive additional interest for Written Payment Agreements due between August 1, 2020, and September 30, 2020.
Crop insurance is sold and delivered solely through private insurance agents.
(SOURCE: Risk Management Agency)