Federal Crop Insurance Corporation (FCIC)

Public notice | Agenda | Managers Report | Concept Proposal 128 Resolution

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), last amended by the Agricultural Risk Protection Act of 2000 (ARPA), 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 board consists of:

• Undersecretary of FFAS, Michael Scuse;
• USDA Chief Economist, Dr. Joseph Glauber;
• FCIC Acting Manager (non-voting), Brandon Willis;
• Four farmers, one of whom grows specialty crops:
  • Maggie Goode
  • Ellen Linderman
  • James Bardenhagen
  • Kenneth Ray Sneed
• 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.