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Crop Insurance
10.450
Risk Management Agency’s (RMA) mission is serving America’s agricultural producers through effective, market-based risk management tools and solutions to strengthen the economic stability of agricultural producers and rural communities. To carry out this mission, RMA operates and manages the Federal Crop Insurance Corporation (FCIC). 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 on risk management and undertakes compliance activities to ensure program soundness.
This chart shows obligations for the program by fiscal year. All data for this chart was provided by the
administering agency and sourced from SAM.gov, USASpending.gov, and Treasury.gov.
For more information on each of these data sources, please see the
About the data page.
Fiscal Year 2016: NA No Current Data Available 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: Over the past seven decades, Federal crop insurance has been the primary product provided by the FCIC (administered by the Risk Management Agency (RMA)) and consists of various alternatives designed to improve the economic stability of agriculture. Recent legislative mandates have prompted significant program growth and the development of many large and complex new programs. RMA continuously strives to provide adequate risk protection for our Nation’s agricultural producers and to identify and address concerns about Federal crop insurance. RMA continues to evaluate risk management products, review and approve private sector products to be reinsured by FCIC, and ensure delivery of these products to agricultural producers. Risk management products can help producers protect themselves from yield risks, market risks, or both. Examples of more recent, new and innovative insurance tools are Stacked Income Protection (STAX), Supplemental Coverage Options (SCO), whole farm, and Pasture Rangeland and Forage (PRF).
For 2017, with over 1.13 million policies on over 312 million net acres, the program provided nearly $74.6 billion in risk protection.
Beginning in 2016 (July 2015), Whole Farm Revenue Protection is available in every county in the United States – a first for the crop insurance program. In addition, eligibility for Whole Farm Revenue Protection was expanded to include beginning farmers and farms that are exclusively livestock or greenhouse. Whole Farm program was enhanced to require more accurate record keeping, development of record keeping tools, and to allow for expanding farm operations.
Pasture, Rangeland, and Forage, an area-based insurance plan that covers perennial pasture, rangeland, or forage used to feed livestock, has been expanded to an additional 19 states, which makes it available in all 48 contiguous states. In addition, updates to pricing better reflect the replacement cost of feed and the producers’ loss experience
Price changes allow organic producers to receive a price guarantee that better reflects the value of their crop. These additions will bring the total number of crops with organic prices from 73 in crop year 2016 to 79 in crop year 2017.
New product for smoke exposure to wine grapes; expansion of Enterprise Units to specialty crops; increase in maximum coverage level for most crop products; improvements to livestock portfolio.
Single Audit Applies (2 CFR Part 200 Subpart F):
For additional information on single audit requirements for this program, review the current Compliance Supplement.
OMB is working with the U.S. Government Accountability Office (GAO) and agency offices of inspectors general to include links to relevant oversight reports. This section will be updated once this information is made available.
