Risk Management Agency adjusts insurance deadlines

The U.S. Department of Agriculture Risk Management Agency said it has authorized additional flexibilities to crop insurance programs due to coronavirus while continuing to support producers, working through approved insurance providers to deliver services, including processing policies, claims and agreements.

RMA said the flexibilities include enabling producers to send notifications and reports electronically, extending the date for production reports, and providing additional time and deferring interest on premium and other payments.

"Crop insurance will continue to support farmers through the challenges ahead, and our RMA team is here to support them," RMA Administrator Martin Barbre said. "We are working with the insurance providers to continue to deliver crop insurance and to respond to farmer needs."

The agency said producers may send notifications and reports electronically for written agreement issues, acreage and production reporting and upcoming deadlines to buy crop insurance. Notice of the policyholder’s election may be provided over the phone with appropriate documentation of the call or using electronic methods followed by their confirmation of such election in writing no later than July 15.

Approved insurance providers are authorized to provide additional time for policyholders to make payment of premium and administrative fees. Interest accrual on premium payments and administrative fees will be waived to the earliest of an additional 60 days from the scheduled payment due date or the termination date on policies with premium billing dates between March 1 and April 30.

AIPs are also authorized to provide additional time for policyholders to make payment for Written Payment Agreements due between March 1 and April 30. Payments may be extended up to 60 days from the scheduled payment due date and considered a timely payment.