National Crop Insurance Services (NCIS) has issued a counterproposal to the 2011 Standard Reinsurance Agreement (SRA) issued by USDA/Risk Management Agency (RMA) on Dec. 4, 2009.
NCIS says it offered the rebuttal to the SRA—the contract under which the private insurance companies agree to deliver the federal crop insurance program to the nation’s farm producers—due to the cuts called for by the RMA. Specifically, the RMA proposal would reduce funding by approximately$4 billion over the next five years.
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