{"data":{"id":"us/7-cfr-460.15","jurisdiction":"us","citation":"7 CFR 460.15","heading":"Definitions.","body":"ADD PAY II means Additional Payment II Program.\nAnnual settlement means the settlement of accounts between the Company and FCIC for the reinsurance year, beginning with the October monthly transaction cutoff date following the end of the subsequent reinsurance year and continuing monthly thereafter, as necessary.\nA\u0026O Subsidy means the subsidy for the administrative and operating expenses. The subsidy is paid by FCIC on behalf of the policyholder to the Company for additional coverage level crop insurance contracts in accordance with section 508(k)(4) of the Federal Crop Insurance Act (7 U.S.C. 1508(k)(4)).\nApproved Insurance Provider (AIP) means a legal entity (also referred to as “the Company”) which has entered into a Standard Reinsurance Agreement (SRA) with FCIC for the applicable reinsurance year.\nCrop Provisions means the part of the policy that contains the specific provisions of insurance for each insured crop.\nEligible crop insurance contract means an insurance contract with an eligible producer:\n(1) Covering an agricultural commodity authorized to be insured under the Federal Crop Insurance Act and approved for sale by FCIC;\n(2) With terms and conditions in effect as of the applicable contract change date;\n(3) That is sold and serviced in accordance with the Federal Crop Insurance Act, FCIC regulations, FCIC procedures, and the SRA; and\n(4) That has a sales closing date within the reinsurance year.\nFCIC means the Federal Crop Insurance Corporation, a wholly owned Government Corporation of USDA that administers the Federal Crop Insurance Program.\nLiability means total amount of insurance, value of production guarantee, or revenue protection guarantee for the unit determined in accordance with the Settlement of Claim provisions of the applicable Crop Provisions.\nNet book premium means the premium amount established by FCIC for eligible crop insurance contracts in accordance with section 508(d)(2) of the Federal Crop Insurance Act (7 U.S.C. 1508(d)(2)), less any amount for A\u0026O subsidy.\nQualifying crop insurance contract means an eligible crop insurance contract for a 2022 or 2023 reinsurance year specialty crop.\nReinsurance year means the term of the SRA beginning July 1 and ending on June 30 of the following year and, for reference purposes, identified by the year containing June.\nRMA means the Risk Management Agency, USDA.\nSpecialty crop means agricultural commodities described in section 101 of Title I of the Specialty Crops Competitiveness Act of 2004 (7 U.S.C. 1621 note), including fruits and vegetables, tree nuts, dried fruits, horticulture nursery crops, and other crops listed on the RMA specialty crops website at https://www.rma.usda.gov/about-crop-insurance/highlighted-initiatives-plans/specialty-crops, or a successor website.\nStandard Reinsurance Agreement (SRA) means the agreement between an AIP and FCIC by which the insurer transfers to FCIC certain liabilities arising from the insurer's sales of insurance policies in return for a portion of premium monies and administrative expense reimbursements.\nUSDA means United States Department of Agriculture.","path":["Title 7—Agriculture","Subtitle B—Regulations of the Department of Agriculture","CHAPTER IV—FEDERAL CROP INSURANCE CORPORATION, DEPARTMENT OF AGRICULTURE","PART 460—DISASTER AND OTHER ADDITIONAL PAYMENTS","Subpart C—Additional Payment II Program"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-7.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:01Z","sha256":"7e1973aaf52ac076184d6555db11960f28b75d002f4a793db297aec0c7ba0e5d","source_id":"us-cfr","stale":true,"prev":"us/7-cfr-460.14","next":"us/7-cfr-460.16"},"notice":"GroundRules: Original legal text. Not legal advice."}