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Standard Reinsurance Agreement: Federal Crop Insurance Corporation
Barry Leonard (ed). Text of the Agreement which establishes the terms & conditions under which the Federal Crop Insur. Corp. (FCIC), supervised by the Risk Mgmt. Agency (RMA) as authorized in section 226A of the Fed. Agriculture Improvement & Reform Act of 1996, will provide subsidy & reinsurance on eligible crop insur. contracts sold by a Company. This Agreement is authorized by the Act & regulations of FCIC published at 7 C.F.R. ch. IV (regulations). This is a cooperative financial assistance agreement between FCIC & a company to deliver eligible crop insurance contracts under the authority of the Act. This Agreement becomes effective upon its execution & the approval of the Companyís Plan of Operations by FCIC for the applicable reinsurance year.
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