RMA Pilot Programs
The Agricultural Risk Protection Act (the Act) of 2000 was signed into law by the President on June 20, 2000. This legislation changed the process by which RMA is allowed to develop and maintain pilot programs. Section 131 of the Act prohibits the Federal Crop Insurance Corporation (FCIC), which is administered by the Risk Management Agency (RMA), from conducting research and development for any new policies for agricultural commodities and requires that new product development be accomplished though contracts or partnerships. The legislation also allows grower organizations and other groups to develop new policies at their own expense and request reimbursement from FCIC after products are approved and reach a certain level of marketability.
Note: Any examples offer general guidelines and are for illustrative purposes only. Contact a crop insurance agent for terms specific to your farm. |
|