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Crop Insurance
To carry out this mission, RMA operates and manages the
FCIC provides crop insurance and risk management strategies to American producers.
Private sector insurance providers, approved by FCIC, sell and service the policies.
RMA develops and/or approves premium rates, administers the premium and expense subsidies, approves and support products, and reinsures the Approved Insurance Providers (AIPs).
In addition, RMA sponsor educational programs and seminars on risk management.
Established in 1862, the Department of Agriculture serves all Americans through anti-hunger efforts, stewardship of nearly 200 million acres of national forest and rangelands, and through product safety and conservation efforts. The USDA opens markets for American farmers and ranchers and provides food for needy people around the world.
Interested producers should contact their Regional Office listed in Appendix IV of the Catalog, or a private industry crop insurance agent. http://www.rma.usda.gov/aboutrma/fields/.
Program Accomplishments
Fiscal Year 2016: RMA worked on implementation and maintenance of various initiatives outlined in the Agricultural Act of 2014. These initiatives included numerous updates and expansion of existing crops and addition of new crops to the Federal crop insurance program. RMA continued to focus efforts to raise awareness of the Whole-Farm Revenue Protection insurance program, which is available in every county in the United States. In addition, RMA has expanded program availability and assistance to organic producers and rangeland operations. RMA worked closely with the Farm Service Agency to implement the Acreage Crop Reporting Streamlining Initiative (ACRSI). Fiscal Year 2017: Fiscal Year 2017: NA No Current Data Available. Fiscal Year 2018: No Current Data Available
Uses and Use Restrictions
The Federal Crop Insurance Corporation (FCIC) is a wholly owned government corporation created February 16, 1938 (7 U.S.C.
1501.) The program was amended by Public Law (P.L.) 96-365, dated September 26, 1980, to provide for nationwide expansion of a comprehensive crop insurance plan.
FCIC is administered by the Risk Management Agency (RMA), and promotes the national welfare by improving the economic stability of agriculture through a secure system of crop insurance.
FCIC provides an actuarially sound risk management program that protects against agricultural production losses due to unavoidable causes such as drought, excessive moisture, hail, wind, hurricane, tornado, lightning, and insects.
In addition to these causes, revenue insurance programs are available under which producers of certain crops are protected against loss of revenue stemming from low prices, poor yields, or a combination of both.
Federal crop insurance is available to producers through private insurance companies that market and service policies and also share in the risk.
Thus, the program delivery is a joint effort between the Federal government and the private insurance industry.
Federal government subsidizes insurance premiums at a variety of levels depending on level of insurance coverage.
Eligibility Requirements
Applicant Eligibility
Unless otherwise restricted by the insurance policy, owners or operators of farmland, who have an insurable interest in a crop in a county where insurance is offered on that crop, are eligible for insurance.
Beneficiary Eligibility
This program is excluded from coverage under OMB Circular No. A-87.
Credentials/Documentation
Different types of crop productions information is required depending on the crop insurance purchased. This program is excluded from coverage under 2 CFR 200, Subpart E - Cost Principles.
Aplication and Award Process
Preapplication Coordination
Preapplication coordination is not applicable.
Environmental impact information is not required for this program.
This program is excluded from coverage under E.O.
12372.
Application Procedures
This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Application for crop insurance offered by a company reinsured by FCIC must be filed with a crop insurance sales agent. Both catastrophic and additional coverage are available only from private companies. In general, crops and acreage must be reported to establish insurance coverage for crop insurance and, if not eligible for crop insurance. This program is excluded from coverage under OMB Circular No. A-110.
Award Procedures
The insurance contract becomes effective upon issuance of a Notice of Acceptance by the insurance company. Notices of Acceptance for insurance coverage are issued upon a determination that the applicant is eligible.
Deadlines
Contact the headquarters or regional office, as appropriate, for application deadlines.
Authorization
Federal Crop Insurance Act, as amended, 7 U.S.C. 1501-1520, Agricultural Adjustment Act of 1938, 7 (U.S.C. 1501; Federal Crop Insurance Act of 1980, as amended, Public Law 101-624; Federal Crop Insurance Reform Act of 1994, Public Law 103-354; Federal Agriculture Improvement and Reform Act of 1996, Public Law 104-127; Agricultural Research, Extension, and Education Reform Act of 1998, Public Law 105-185; Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act of 1999, Public Law 109-97; Agriculture Risk Protection Act of 2000, Public Law 106-224; Food, Conservation and Energy Act of 2008, Public Law 110-234; and Agricultural Act of 2014, Public Law No. 113-79.
Range of Approval/Disapproval Time
From 15 to 20 days.
Appeals
Appeals should be addressed within 30 days to the National Appeals Division, U.S. Department of Agriculture, Washington, DC 20250.
Renewals
Continuous insurance contract.
Assistance Considerations
Formula and Matching Requirements
This program has no statutory formula. This program has no matching requirements. This program does not have MOE requirements.
Length and Time Phasing of Assistance
Not applicable. See the following for information on how assistance is awarded/released: Not applicable.
Post Assistance Requirements
Reports
Private Industry Crop Insurance Acreage Report; Actual Production History Yield Report; and in the event of a loss, Notice of Damage, Production Worksheet, and proof of loss.
Cash reports are not applicable.
Progress reports are not applicable.
Expenditure reports are not applicable.
Performance monitoring is not applicable.
Audits
This program is excluded from coverage under 2 CFR 200, Subpart F - Audit Requirements. Recipients are subject to audit by the RMA internal compliance function, private insurance company auditors, Office of the Inspector General, USDA, and the General Accounting Office.
Records
Insured must keep for 3 years, after the end of the crop year, records of harvesting, shipments, sale or other disposition of all insured crops produced on each unit covered by the contract and separate records for any uninsured acreage of the insured crops.
Financial Information
Account Identification
12-4085-0-3-351.
Obigations
(Insurance) FY 16 $3,291,101,228; FY 17 est $4,052,400,000; and FY 18 est $2,773,400,000 - These amounts represent Delivery Expenses and Underwriting Gains. (Insurance) FY 16 $5,282,039,801; FY 17 est $4,900,000,000; and FY 18 est $12,573,400,000 - These amounts represent total indemnities.
Range and Average of Financial Assistance
Level of assistance varies according to policy, crop and indemnities paid.
Regulations, Guidelines, and Literature
7 CFR Part 400 and a brochure 'Introduction to Risk Management'- available at no charge. http://www.rma.usda.gov/
Information Contacts
Regional or Local Office
See Regional Agency Offices. Interested producers should contact their Regional Office listed in Appendix IV of the Catalog, or a private industry crop insurance agent. http://www.rma.usda.gov/aboutrma/fields/.
Headquarters Office
Carl Frazier 2641 SW Wanamaker Rd, Suite 201 , Topeka, Kansas 66614 Email: carl.frazier@rma.usda.gov Phone: 7852285531
Criteria for Selecting Proposals
Not Applicable.
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