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USDA Extends Deadlines, Defers Interest Accrual Due to COVID-19

USDA Extends Deadlines, Defers Interest Accrual Due to COVID-19

The U.S. Department of Agriculture’s (USDA) Risk Management Agency (RMA) today announced it will authorize Approved Insurance Providers (AIPs) to extend deadlines for premium and administrative fee payments, defer the resulting interest accrual and allow other flexibilities to help farmers, ranchers, and insurance providers due to the COVID-19 pandemic.

“USDA recognizes farmers and ranchers have been severely affected by the COVID-19 Pandemic this year and to help ease the burden on these folks, we are continuing to extend flexibility for producers,” said U.S. Secretary of Agriculture Sonny Perdue. “The flexibilities announced today support health and safety while also ensuring the Federal crop insurance program continues to serve as a vital risk management tool.”

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