Federal Crop Insurance Corporation (FCIC)
FCIC Meeting Archive | Private Sector Developed Plans of Insurance | Program Budget and Financial Highlights
Feb 14 - 15, 2017 FCIC Board Meeting Materials
The Federal Crop Insurance Corporation (FCIC) promotes the economic stability of agriculture through a sound system of crop insurance and providing the means for the research and experience helpful in devising and establishing such insurance. Management is vested in a Board of Directors, subject to the general supervision of the Secretary of Agriculture.
Federal Crop Insurance Corporation Board of Directors
The Federal Crop Insurance Act (Act) (7 U.S.C. § 1505 Management of Corporation), established the composition of the Board of Directors to manage the Federal Crop Insurance Corporation (FCIC) subject to the general supervision of the Secretary of Agriculture.
The Board delegates to the manager of the FCIC (RMA Administrator) certain authorities and powers.
The Board approves any new policy, plan of insurance or major modification to an existing plan or other materials
under procedures established by the Board.
The Code of Federal Regulations (CFR), Title 7-Agriculture, Subtitle
B-Regulations of the Department of Agriculture, Chapter IV- Federal Crop Insurance Corporation that refer to the
general administrative regulations of the FCIC are codified in 7 CFR 400. Regulations that pertain to private
sector plans of insurance submissions are published in Subpart V, 7 CFR 400.700-722.
- Under Secretary of FFAS, Michael Scuse;
- USDA Chief Economist, Dr. Robert Johansson;
- FCIC Manager (non-voting)
- Four farmers, one of whom grows specialty crops:
- An individual involved in insurance (often an agent), Iris Sáenz;
- An individual knowledgeable about reinsurance or regulation, John F. Finston
The corporation takes actions necessary to improve the actuarial soundness of Federal
multiperil crop insurance coverage, and apply the system to all insured producers in a fair and consistent manner.
For more information, contact RMA Public Affairs.