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PREMIUM REDUCTION PLAN COMPANIES AND STATES LIST
Updated PRP Companies and States List
WASHINGTON, Aug 31, 2005 - As part of the implementation of the Premium Reduction Plan (PRP) interim final rule, Risk Management Agency (RMA) today announced that nine companies have been determined eligible for the opportunity to offer crop insurance premium discounts in states the companies selected for the 2006 reinsurance year. The nine companies recently submitted their eligibility requests under provisions of a new interim final rule governing PRPs, published by RMA on July 20, 2005.
The Federal Crop Insurance Corporation Board passed a resolution directing the corporation to publish a proposed and final rule addressing PRP issues after its meeting on November 19, 2004. The Board felt that notice and comment rulemaking would give the public a better opportunity to provide comments and analysis in the development of PRP requirements.
A company's eligibility for the opportunity to offer a premium reduction does not require the company to ultimately request approval from RMA nor does it guarantee approval to pay a premium discount to its federal crop insurance policyholders. Any payment of a premium discount by a company will occur only after the company's financial information for the year is independently audited, and RMA verifies and approves the requested discount. Even if a company requests and is approved to pay a premium discount for 2006, its policyholders could receive the discount as late as the spring of 2008.
The states in which each company is eligible for the opportunity to offer a premium reduction plan for the 2006 reinsurance year are:
Company/
Managing General Agent
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States
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ACE Property and Casualty Insurance Company/
Rain and Hail L.L.C |
All 50 States
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| Farm Bureau Mutual Insurance Company |
Iowa, Kansas, Minnesota, Nebraska, South Dakota
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Farmers Alliance Mutual Insurance Company/
Farmers Crop Insurance Alliance, Inc.
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Alabama, Arizona, Arkansas, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, North Dakota, Ohio, Oklahoma, Oregon, South Dakota, Tennessee, Texas, Washington, Wisconsin, Wyoming |
| NAU Country Insurance Company |
Iowa, Nebraska, South Dakota
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Occidental Fire & Casualty Company of North Carolina/
Crop1 Insurance Direct
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Arizona, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, South Dakota, Texas, Washington, Wisconsin |
Rural Community Insurance Company/
Rural Community Insurance Services
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All 50 States
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Stonington Insurance Company/
Agro National L.L.C.
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California, Idaho, Illinois, Indiana, Iowa, Kansas Michigan, Minnesota, Missouri, Nebraska, Ohio, Wisconsin
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Westfield Insurance Company/
John Deere Risk Protection, Inc.
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Alabama, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, Wyoming
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XL Reinsurance America, Inc./
Heartland Crop Insurance, Inc.
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Arkansas, California, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Missouri, Montana, Nebraska, North Dakota, Ohio, Oklahoma, South Dakota, Tennessee, Texas, Wisconsin
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