Standard Reinsurance Agreement (Sra)

The Standard Reinsurance Agreement (SRA) is a cooperative financial agreement between the FCIC and each of the licensed insurance companies called AIPs to provide eligible crop insurance contracts to farmers and ranchers. It establishes and regulates the commercial and financial relations between FCIC and AIPS, including the conditions under which the FCIC assumes reimbursement of administrative and operational costs and reinsurance for eligible contracts sold by AIPS. Business book – the consolidation of all authorized crop insurance contracts between the company and its policyholders that have a closing date of sale during the reinsurance year and can be reinsured under the SA. . . .