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USDA RELEASES STUDIES ABOUT FEDERAL CROP INSURANCE PROGRAM ACTUARIAL METHODOLOGY FOR PUBLIC COMMENT

WASHINGTON, updated Dec 7, 2009 - USDA’s Risk Management Agency (RMA) has released the results of a periodic review of RMA’s premium rating methodology. Over the past several years, RMA has engaged contractors and conducted internal assessments of various elements of its premium rating methodology. In 2009, RMA undertook a comprehensive review of all aspects of the Actual Production History (APH) and revenue rating methodologies.

RMA is releasing the draft report received under this contract, as well as prior contracted studies and internal RMA reviews considered, on its web site for review and comment. The report, “A Comprehensive Review of the RMA APH and COMBO Rating Methodology Draft Final Report” and other studies are available at: http://www.rma.usda.gov/pubs/

Comments related to this report can be directed to actuarial@rma.usda.gov. The public comment period has been extended until Jan 19, 2010.