Federal Crop Insurance Corporation
FCIC is a wholly owned government corporation that administers the Federal crop insurance program.
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.
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.
- The Under Secretary responsible for the Federal Crop Insurance Program;
- USDA Chief Economist, Dr. Robert Johansson;
- FCIC Manager (non-voting); Martin Barbre;
- 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.
- Contact Information
For more information, Email RMA Public Affairs.