A&O subsidy definition

A&O subsidy means the subsidy for the administrative and operating expenses paid by FCIC on behalf of the policyholder to the Company for additional coverage level eligible crop insurance contracts in accordance with section 508(k)(4) of the Act (7 U.S.C. § 1508(k)(4)).

A&O subsidy means the subsidy for the administrative and operating expenses paid by FCIC on behalf of the policyholder to the Company for eligible livestock price insurance contracts.

A&O subsidy means the subsidy for the administrative and operating expenses paid by FCIC on behalf of the policyholder to the Company for additional coverage level eligible crop insurance contracts in accordance with section 508(k)(4) of the Act (7

Examples of A&O subsidy in a sentence

• RMA relies on information provided by the AIP, third-party affiliates, and policyholders when making determinations relating to crop insurance, including determinations relating to the provision of reinsurance, premium subsidy and A&O subsidy on eligible crop insurance contracts.

• Reimbursement for CAT Loss Adjustment Expense will be calculated in accordance with the SRA, and will be included on the Monthly/Annual Settlement Reports beginning with the same monthly settlement report that contains initial A&O subsidy payments for a specific reinsurance year (see paragraph D.1. above).

• In accordance with the Board approved procedures, index- based weather plans of insurance are not eligible for federal reinsurance, but may be approved for risk subsidy and A&O subsidy.

• Federal programs enacted by Congress and the regulations and policies developed by RMA, USDA and other Federal agencies with applicable regulatory control provide the: • Authority for program and administrative operations, • Origin for RMA calculation of A&O subsidy, reinsurance and risk sharing.

• RMA relies on information provided by the AIP, by third-party affiliates, and by policyholders when making determinations relating to crop insurance, including determinations relating to the provision of reinsurance, premium subsidy and A&O subsidy on eligible crop insurance contracts.

• The A&O subsidy applicable to the eligible crop insurance contract will be reduced whenever the identified required LSR data has not been timely and accurately provided to FCIC or such information is revised after the LSR Transaction Cutoff Date.

• The AIPs must review with particular care the following general information and exhibits to ensure full compliance with the SRA Appendix II: Exhibit III.f.1-3 – Agent Compensation Template The Agent Compensation template reflects the A&O subsidy (excluding the additional A&O subsidy paid when the state loss ratio exceeds 120 percent), processing payments, agent compensation less profit sharing, and profit sharing.

• If the underlying FCIC reinsured policy is sold by another AIP, the AIP that sold the NRS may be required to pay FCIC an amount equal to the reinsurance, A&O subsidy, and risk subsidy on the underlying FCIC policy.

• If the approved insurance provider sells an NRS policy that RMA deter- mines materially increases or shifts risk to the underlying FCIC reinsured policy, reduces or limits the rights of the insured with respect to the under- lying policy, or causes disruption in the marketplace for products reinsured by FCIC, reinsurance, A&O subsidy and risk subsidy will be denied on the un- derlying FCIC reinsured policy for which such NRS policy was sold.

• If the underlying FCIC re- insured policy is sold by another AIP, the AIP that sold the NRS may be re- quired to pay FCIC an amount equal to the reinsurance, A&O subsidy, and risk subsidy on the underlying FCIC policy.

More Definitions of A&O subsidy

A&O subsidy means the subsidy for the administrative and operating expenses authorized by the Act and paid by FCIC on behalf of the producer to the Company. AAdministrative fee@ means the processing fee the policyholder must pay in accordance with the Act and 7 C.F.R. chapter IV. AAgency@ means the person or entity with a contract or agreement with the Company or its MGA to sell and service eligible crop insurance contracts under the Federal crop insurance program. AAgent@ means an individual licensed by the State in which the agent does business under contract with a Company, its managing general agent, or any other entity, to sell and service eligible crop insurance contracts. AAgreement@ means this Standard Reinsurance Agreement, all Appendices, all referenced documents including Manual 13 and the Approved Manual 14. AAnnual Settlement@ means the settlement of accounts between the Company and FCIC for the reinsurance year, beginning with the February monthly transaction cutoff date following the reinsurance year and continuing monthly thereafter as necessary. "Approved Manual 14" means the Guidelines and Expectations for the delivery of the Federal Crop Insurance Program (Manual 14) as it exists 30 days prior to the date on which the Plan of Operation must be submitted to FCIC with respect to such reinsurance year. ABilling date@ means the date specified in the actuarial data master file as the date by which policyholders are billed for premium due on eligible crop insurance contracts. ABoard@ means the FCIC Board of Directors. ABook of business@ means the aggregation of all eligible crop insurance contracts in force between the Company and its policyholders that have a sales closing date within the reinsurance year and are eligible to be reinsured under this Agreement. ACancellation date@ means the date by which the Company or policyholder must notify the other that coverage under an eligible crop insurance contract issued by the Company is canceled for a succeeding crop year. The day following this date is considered as the date a continuous eligible crop insurance contract carried over from the previous crop year is renewed for the subsequent crop year. ACarryover crop insurance contract@ means eligible crop insurance contract that has been in force for at least one crop year term and continues in force for another crop year term after the cancellation date. ACatastrophic risk protection (CAT)@ means an eligible crop insurance contract that is in accordance with...