COM-25-004: Livestock Price Reinsurance Agreement (LPRA) Pilot AIP Performance Review (APR) for RY 2024

BACKGROUND

Per section II (a)(9), the Livestock Price Reinsurance Agreement requires a periodic review of approved insurance providers (AIPs) operations to confirm program compliance and the integrity of the Federal crop insurance program. On August 17, 2017, the United States Department of Agriculture, Risk Management Agency (RMA) issued COM-17-004 establishing an AIP Performance Review (APR) of each AIP associated with the Standard Reinsurance Agreement (SRA) approximately once every three years. Based on the success of the APR of the SRA, RMA will begin a pilot review for AIPs that have a Livestock Price Reinsurance Agreement (LPRA). As such, RMA will now administer an APR for the LPRA and the SRA together for the 2024 Reinsurance Year on the already established APR schedule.

ACTION

The Regional Compliance Office (RCO) Directors have until October 1, 2025, to contact the AIPs that will be reviewed in order to coordinate the information required from the AIPs and schedule an entrance conference. Any AIP that is not contacted by an RCO by that time will be exempt from review for the 2024 Reinsurance Year. RCO's will work with AIPs to gather information associated needed for the review to create a performance report. This Pilot is subject to change at any time at the sole discretion of the Administrator of RMA.

DISPOSAL DATE
Until modified or rescinded