Livestock

Background

The Livestock Price Reinsurance Agreement (LPRA) requires Approved Insurance Providers (AIPs) conduct Conflict of Interest (COI) reviews. Livestock price insurance contracts were included in the Fall 2020 COI list but were removed from the Spring 2021 COI list. COM-20-008, issued on December 8, 2020, instructed AIPs to conduct livestock price insurance contract COI reviews in accordance with LPRA Appendix IV, Section III(b)(3)(A) beginning with reinsurance year (RY) 2021 insurance intervals of March.

The Risk Management Agency (RMA) has released the 2017 Standard Reinsurance Agreement (SRA) and Appendices I, II, and IV, and the 2017 Livestock Price Reinsurance Agreement (LPRA) and Appendices I, II, and IV, which become effective July 1, 2016. The documents are located on the RMA website at: www.rma.usda.gov/policy-procedure/reinsurance-agreements. The draft Appendix III that provides standards, procedure and instructions for reporting data to RMA will be issued by May 2016.