This week, the U.S. Department of Agriculture Risk Management Agency (USDA-RMA) announced they were authorizing Approved Insurance Providers (AIP) to extend crop insurance deadlines to help producers due to the widespread drought. RMA Acting Administrator Richard Flournoy says this relief is nationwide.
Producers now have additional time to pay premium and administrative fees, and interest will be waived for 60 days or the termination date on the policy, whichever comes first. RMA also authorized AIPs to waive interest for an additional 60 days for Written Payment Agreements due between August 1 and September 30, 2021.
More information can be found on the RMA website.