COM-25-002: Updated Livestock Price Reinsurance Agreement Appendix IV $200,000 Indemnity Review Requirements for RY 2026
BACKGROUND:
Approved Insurance Providers (AIPs) are required to conduct reviews of eligible livestock price insurance contracts (ELPIC) on livestock plans of insurance (Livestock Gross Margin (LGM), Livestock Risk Protection (LRP), Dairy Revenue Protection (DRP), and Weaned Calf Risk Protection (WCRP)). These reviews (Data Mining, Individual Policy, Conflict of Interest, and $200,000 Indemnity ($200K)) are intended to address suspected anomalies, program integrity concerns, or to ensure that a company’s internal control processes are operational and effective.