The U.S. Department of Agriculture’s (USDA) Risk Management Agency (RMA) on Thursday announced it will continue to defer accrual of interest for 2019 crop year insurance premiums to help the wide swath of farmers and ranchers affected by extreme weather in 2019.
Specifically, USDA will defer the accrual of interest on 2019 crop year insurance premiums to the earlier of the applicable termination date or January 31, 2020, for all policies with a premium billing date of August 15, 2019.
This extension is necessary since harvest progress has been very delayed and crop insurance claims are not typically settled until harvest is ...