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.
