Marketability

Section 508(h)(4) of the Federal Crop Insurance Act (7 U.S.C. 1508(h)(4)) is amended— (1) in subparagraph (A), by amending clause (iii) to read as follows: (iii) Application (I) In general Except as provided in subclause (II), this subparagraph shall apply with respect to a proposal only during the period preceding any approval of the proposal by the Board. (II) Exception An approved insurance provider that submits a letter of support for a concept proposal, a policy, or plan of insurance shall— (aa) not be considered the public for purposes of clause (ii); (bb) have access to data and other product development information submitted to the Board during its review under this subsection; and (cc) be subject to the confidentiality requirements as applicable to the Board pursuant to clauses (i) and (ii).; (2) in subparagraph (D), by adding at the end the following: (iv) Marketability deadline Any new policy, plan of insurance, or other material approved by the Board under this subsection during a reinsurance year and after the Standard Reinsurance Agreement closing date of July 1 shall not be implemented for such reinsurance year unless at least 90 days prior to the sales closing date for such policy, plan of insurance, or other material, the Board makes available to the approved insurance providers all necessary, as determined by the Board, handbooks, training materials, and other resources associated with such policy, plan of insurance, or other material.; and (3) by adding at the end the following: (F) Marketability determination (i) Submission to the board Prior to the approval of a product, any approved insurance provider that submitted a letter of support for the product shall provide information and analysis to the Board on the marketability of such product. (ii) Deemed marketable In reviewing a policy, plan of insurance, or other material submitted to the Board under this subsection, such product shall be deemed marketable in accordance with paragraph (3)(A)(ii)(I) if at least one approved insurance provider, in its submission pursuant to clause (i), expresses support for such policy, plan, or material. (iii) Evaluation by the board In evaluating whether a product is marketable in accordance with paragraph (3)(A)(ii)(I), the Board shall take into consideration any information and analysis submitted pursuant to clause (ii). (iv) AIP participation The Board shall not require the submission of a letter of support from an approved insurance provider in order to review and approve any policy, plan of insurance, or other material submitted pursuant to this subsection..