USDA Seeks Public Comment on Info Collection: Standard Reinsurance Agreement

WASHINGTON, March 12 -- The U.S. Department of Agriculture has proposed a 30-day public comment period on an information collection entitled: "Standard Reinsurance Agreement."

A March 12, 2021, notice published in the Federal Register by Levi S. Harrell, Departmental Information Clearance Officer.

Comments regarding this information collection received by April 12, 2021 will be considered. Written comments and recommendations for the proposed information collection should be submitted within 30 days of the publication of this notice on the following website www.reginfo.gov/public/do/PRAMain. Find this particular information collection by selecting "Currently under 30-day Review--Open for Public Comments" or by using the search function.

An agency may not conduct or sponsor a collection of information unless the collection of information displays a currently valid OMB control number and the agency informs potential persons who are to respond to the collection of information that such persons are not required to respond to the collection of information unless it displays a currently valid OMB control number.

Risk Management Agency

Title: Standard Reinsurance Agreement.

OMB Control Number: 0563-0069.

Summary of Collection: The Federal Crop Insurance Act, Title 7 U.S.C. Chapter 36 Sec. 1508(k), authorizes the Federal Crop Insurance Corporation (FCIC) to provide reinsurance to approved insurance providers who insure producers of any agricultural commodity under one or more plans acceptable to FCIC. The Standard Reinsurance Agreement (SRA) is a financial agreement between FCIC and the company to provide subsidy and reinsurance on eligible crop insurance. The SRA includes Regulatory Duties and Responsibilities, Plan of Operations, Policy Acceptance and Storage System and Quality Assurance and Program Integrity.

Need and Use of the Information: The Plan of Operations provides the information the insurer is required to file for the initial and each subsequent reinsurance year. FCIC uses the information as a basis for the approval of the insurer's financial and operational capability of delivering the crop insurance program and for evaluating the insurer's performance regarding implementation of procedures for training and quality control. If the information were not collected, FCIC would not be able to reinsure the crop business.

Description of Respondents: Business or other for-profit; Farms.

Number of Respondents: 22,014.

Frequency of Responses: Reporting: Annually.

Total Burden Hours: 189,000.

Levi S. Harrell,

Departmental Information Clearance Officer.

[FR Doc. 2021-05158 Filed 3-11-21; 8:45 am]

BILLING CODE 3410-08-P

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Complete text: https://www.federalregister.gov/documents/2021/03/12/2021-05158/submission-for-omb-review-comment-request

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