News & Events

RMA: Provides a Helping Hand

7/13/2022

United State Department of Agriculture’s Risk Management Agency launches Emergency Drought Relief – Deferral of Interest Charges.

The RMA has recognized the recent challenges draught and other conditions have brought to farmers and ranchers. In response to these conditions, the RMA has released “Emergency Drought Relief – Deferral of Interest Charges” to provide additional time for policyholders to make payments of premiums and administrative fees. In addition, interest accrual will be waived to the earliest of another 60 days of the scheduled payment due date or the termination date on policies with premium billing dates between August 1, 2022, and September 30, 2022. AIPs will begin to accrue interest after this period for unpaid premium and administrative fees.

In conclusion, the RMA has heard the cries for help of all our beloved producers, farmers, and ranchers suffering from unfavorable weather conditions. IF you would like to dig more into this recent release from the RMA, follow the link below!

https://www.rma.usda.gov/en/Policy-and-Procedure/Bulletins-and-Memos/2022/MGR-22005?fbclid=IwAR2soRTPWq9BKRTnGJ7SwJEfYdkQvQ9VawNXvSvKKzFgHkol1mC42qlKheg

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