What federal agency oversees the Federal Crop Insurance Program?

• A. USDA Risk Management Agency
• B. Federal Insurance Agency
• C. Crop Insurance Bureau
• D. Agricultural Risk Agency

Answer: (A)

The Federal Crop Insurance Program is overseen by the USDA Risk Management Agency (RMA). This agency is part of the United States Department of Agriculture and is responsible for administering the federal crop insurance program, which provides insurance protection to farmers and ranchers against the loss of crops due to natural disasters or loss of revenue due to declines in crop prices. The RMA develops and manages the various insurance products available to producers, ensuring they have the tools needed to mitigate the risks associated with agriculture.

This oversight includes not only the development of crop insurance policies but also determining premium rates, setting coverage levels, and working to improve access to insurance coverage for all farmers, especially those in high-risk areas. The importance of the RMA's role cannot be understated, as it helps stabilize the agricultural economy and supports food production across the country.