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 and seminars on risk management.
General information about this opportunity
Last Known Status
Risk Management Agency, Department of Agriculture
Type(s) of Assistance Offered
G - Insurance
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.
Agriculture Improvement Act of 2018, Public Law 115-334
Who is eligible to apply/benefit from this assistance?
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.
This program is excluded from coverage under OMB Circular No. A-87.
Different types of crop productions information is required depending on the crop insurance purchased
What is the process for applying and being award this assistance?
Preapplication coordination is not applicable.
2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. 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.
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.
Contact the headquarters or regional location, as appropriate for application deadlines
Approval/Disapproval Decision Time
From 15 to 20 days.
Appeals should be addressed within 30 days to the National Appeals Division, U.S. Department of Agriculture, Washington, DC 20250.
Continuous insurance contract.
How are proposals selected?
How may assistance be used?
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.
What are the requirements after being awarded this opportunity?
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.
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.
Other Assistance Considerations
Formula and Matching Requirements
Statutory formula is not applicable to this assistance listing.
Matching requirements are not applicable to this assistance listing.
MOE requirements are not applicable to this assistance listing.
Length and Time Phasing of Assistance
Not applicable. Not applicable.
Who do I contact about this opportunity?
Regional or Local Office
Interested producers should contact their Regional Office listed in Appendix IV of the Catalog, or a private industry crop insurance agent. https://www.rma.usda.gov/en/RMALocal/Field-Offices/Regional-Offices
David Zanoni, Senior Underwriter
PO Box 419205, Stop 0801
Kansas City, MO 64141-6205 USA
(Insurance) FY 18$4,153,109,244.00; FY 19 est $3,760,000,000.00; FY 20 est $2,679,000,000.00; FY 17$4,081,989,205.00; FY 16$3,291,101,228.00; - These amounts represent Delivery Expenses and Underwriting Gains.(Insurance) FY 18$6,012,814,398.00; FY 19 est $7,194,000,000.00; FY 20 est $9,826,000,000.00; FY 17$4,617,361,200.00; FY 16$5,282,039,801.00; - 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/
Examples of Funded Projects
Fiscal Year 2019
https://www.rma.usda.gov/en/Information-Tools/Summary-of-Business Summary of Business Reports