USA - USDA to defer interest on crop insurance premiums

21.08.2019 725 views
The U.S. Department of Agriculture’s Risk Management Agency (RMA) announced it will defer accrual of interest for all agricultural producers’ spring 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 spring 2019 crop year insurance premiums to the earlier of the applicable termination date or for two months, until Nov. 30, for all policies with a premium billing date of Aug. 15, 2019. For any premium that is not paid by one of those new deadlines, interest will accrue consistent with the terms of the policy. “USDA recognizes that farmers and ranchers have been severely affected by the extreme weather challenges this year,” U.S. Agriculture Secretary Sonny Perdue said. “I often brag about the resiliency of farmers, but after a lifetime in the business, I have to say that this year is one for the record books. To help ease the burden on these folks, we are continuingto extend flexibility for producers with today’s announcement.” RMA administrator Martin Barbre added, “This administrative flexibility is not unprecedented but is a move RMA takes seriously and only under special circumstances like we’re experiencing today. Growers typically have some crop harvested and cash flow to make their billing date, but with so many late-planted crops, this year will be an anomaly.” America’s farmers and ranchers have been especially challenged throughout the 2019 crop year, struggling through severe flooding and excessive moisture conditions across the grain belt and in many other rural communities, with some areas also dealing with extreme heat and drought. Such weather conditions are expected to take a serious toll on acres planted, crop yields and crop quality as harvest begins. One of the largest operating costs for producers is crop insurance premiums paid to their approved insurance provider. Many spring crop insurance premiums are due to be paid before Oct. 1.
Without the interest deferral, policies with an Aug. 15 premium billing date would have interest attach starting Oct. 1 if premiums were not paid by Sept. 30. Now, under the change, policies that do not have the premium paid by Nov. 30 will have interest attach on Dec. 1, calculated from the date of the premium billing notice. USDA revealed Aug. 12 that U.S. farmers filed prevented planting claims on more than 19 million acres during the 2019 crop year. Earlier this summer, USDA announced a series of flexibilities to reduce stress on producers affected by weather, including: providing more time for cover crop haying and grazing by moving the start date from Nov. 1 to Sept. 1, 2019; allowing producers who filed prevented planting claims and then planted a cover crop with a potential for harvest to receive a Market Facilitation Program payment of $15 per acre; holding signups in select states for producers to receive assistance in planting cover crops, and extending the crop reporting deadline in selected states. USDA also will provide producers with additional prevented planting acreage assistance -- which will be announced in the coming weeks -- through the Additional Supplemental Appropriations for Disaster Relief Act of 2019. Source - https://www.feedstuffs.com
04.08.2026

The rising cost of severe weather for South African farmers

Severe weather events across South Africa continue to expose the agricultural sector to escalating climate-related risks. While hail remains a major concern, farmers are increasingly having to contend with multiple weather hazards – from strong winds and heavy rainfall to localised flooding and unseasonal conditions – often during the same production cycle.

04.08.2026

Philippines - Go pushes expanded agriculture insurance

SEN. Bong Go urged the government to expand crop insurance, post-harvest infrastructure, and financing programs to protect the agriculture sector from mounting risks and ensure the country’s food security.

04.08.2026

Nepal - Farmers fight wild boars to save crops

Farmers in Jajarkot are spending day and night guarding their maize fields after wild boars and monkeys began destroying crops across several villages in Bheri Municipality.

04.08.2026

French and Spanish wildfires: Insurance coverage and regulatory implications

The 2026 wildfires in France and Spain are a significant test of European property, agricultural and business interruption insurance. The scale of land burned, precautionary evacuations and disruption to rural, tourism and agricultural activity underline the growing relevance of wildfire as a European exposure. 

04.08.2026

Philippines - Local farmers get easy access to free seeds, insurance in neighborhood drive

Twenty-nine local farmers in Barangay Bugo recently received direct access to government agricultural support following a registration drive brought straight to their neighborhood on July 31, 2026.

04.08.2026

Bangladesh - Rain-induced crop damage inflicts colossal losses on Bogura farmers

Weeks of heavy monsoon rain and upstream flows from northern rivers have damaged  crops largely across parts of Bogura, leaving thousands of farmers facing steep financial losses while government relief remains limited, according to farmers,  agriculture officials and district authorities.

03.08.2026

USA - Insured Acres, Base Acres, and the Farm Bill’s Crop Risk Assistance

The US farm bill crop safety net targets two risks.  Crop insurance targets production-period low yield and revenue risk.  

03.08.2026

Malaysia - Tambunan farmers suffer crop damage as river overflows

Continuous heavy rain sparked a flash flood in Kampung Kuala Namadan on Monday afternoon after Sungai Pegalan overflowed its banks.