The Risk Management Agency (RMA) is an agency of the U.S. Department of Agriculture, which manages the

Federal Crop Insurance Corporation The Federal Crop Insurance Corporation (FCIC) is a wholly owned government corporation managed by the Risk Management Agency of the United States Department of Agriculture. FCIC manages the federal crop insurance program, which provides U.S. fa ...

(FCIC). The current Administrator is Marcia Bunger.

History

The Risk Management Agency (RMA) was created in 1996 by the Federal Agriculture Improvement and Reform Act of 1996 to operate and manage the

(FCIC). The FCIC was created in 1938, during the

Great Depression The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagio ...

, to provide insurance for farmers to allow them to profit from crop production even under difficult agricultural and economic circumstances. Many American farmers were forced to leave their farms as a result of the

Dust Bowl The Dust Bowl was a period of severe dust storms that greatly damaged the ecology and agriculture of the American and Canadian prairies during the 1930s. The phenomenon was caused by a combination of both natural factors (severe drought) a ...

during this period.

Programs, Structure, Staff, and Budget

The Risk Management Agency (RMA) has three program areas: Insurance Services, which provides federal crop insurance to American farmers; Product Management, which develops and reviews crop insurance products to ensure actuarial soundness; and Compliance, which monitors federal crop insurance programs for fraud, waste, and abuse. The RMA is managed by an Administrator appointed by the

United States Secretary of Agriculture The United States secretary of agriculture is the head of the United States Department of Agriculture. The position carries similar responsibilities to those of agriculture ministers in other governments. The department includes several organ ...

. The RMA Administrator serves as the non-voting manager of the

Board. The RMA employs Deputy Administrators to manage each of the three program areas, as well as a Chief Financial Officer, Chief Information Officer, a Director of the Office of Civil Rights, and a Director of the Office of External Affairs. There are ten RMA regional offices around the country. The RMA employs more than 450 people in offices around the country. The RMA had an operating budget of $74.8 million during Fiscal Year 2016, and managed more than $102 billion in insurance liability during 2015.

References

External links

*
Risk Management Agency
in the

Federal Register The ''Federal Register'' (FR or sometimes Fed. Reg.) is the official journal of the federal government of the United States that contains government agency rules, proposed rules, and public notices. It is published every weekday, except on fede ...

{{authority control Agricultural economics United States Department of Agriculture agencies Risk management in business

History

Programs, Structure, Staff, and Budget

See also

References

External links