Posted September 4, 2013
The Federal Crop Insurance Corporation (FCIC) announced that it has finalized the Catastrophic Risk Protection Endorsement in a final rule. The federal register announcement is available here.
The FCIC intends to “clarify existing policy provisions and to incorporate changes that are consistent with those made in the Common Crop Insurance Policy Basic Provisions.” The rule also incorporates “provisions regarding catastrophic risk protection coverage for area yield plans from the Area Risk Protection Insurance (ARPI) Basic Provisions.” Changes become effective for the 2014 and succeeding crop years “for all crops with a contract change date on or after” this rule’s effective date. Changes become effective for the 2015 and succeeding crop years for crops with a contact change date prior to the rule’s effective date. The effective date for the final rule is September 26, 2013.
The announcement also includes comments, responses, and the final rule, which amends 7 C.F.R. § 402.
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