Sec. 11015. Report on Standard Reinsurance Agreement
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Not later than 90 days after the date of the enactment of this section, the Federal Crop Insurance Corporation shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report on the Standard Reinsurance Agreement that includes an analysis of any modifications to such Agreement that are necessary to expand the availability of policies and plans of insurance that meet the risk management needs of agricultural producers, States, regions, and commodities. The analysis required under subsection
(a)shall— take into account the requirements under section 508(k)(8)(F) of the Federal Crop Insurance Act ( 7 U.S.C. 1508(k)(8)(F) ) related to budget neutrality of the Standard Reinsurance Agreement; and include an analysis of— any benefit related to establishing— at least one additional reinsurance fund for States that have experienced consistently high loss ratios; and at least one additional reinsurance fund to provide alternative risk-sharing terms for approved insurance providers that sell insurance contracts offering area plan coverage; with respect to any funds reimbursed for administrative and operating costs under section 507(c) of the Federal Crop Insurance Act ( 7 U.S.C. 1507(c) ), the best method for ensuring that approved insurance providers obligate such funds for— the delivery of risk management tools to producers; and agent workforce assistance for producers, in an amount that is not less than the historical percentage of such reimbursement; and with respect to each policy and plan of insurance, compensation amounts for agents that— are consistent with historical norms; and provide a reasonable return considering workload and the critical service across programs that the agents provide. In carrying out the analysis required under subsection (a), the Federal Crop Insurance Corporation shall consult with— representatives of producers— from each State and region; and with respect to each commodity; representatives of agents and approved insurance providers; the Committee on Agriculture of the House of Representatives; and the Committee on Agriculture, Nutrition, and Forestry of the Senate.
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