Federal Crop Insurance Program
E511879
The Federal Crop Insurance Program is a U.S. government initiative that provides subsidized insurance to help farmers manage financial risks from crop losses due to natural disasters and market fluctuations.
Observed surface forms (1)
| Surface form | Occurrences |
|---|---|
| Title XII – Crop Insurance and Disaster Assistance Programs | 1 |
Statements (57)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal program
ⓘ
agricultural insurance program ⓘ |
| abbreviation | FCIP NERFINISHED ⓘ |
| administeredBy | Risk Management Agency NERFINISHED ⓘ |
| benefit |
encourages adoption of improved risk management practices
ⓘ
supports agricultural credit access ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| covers |
crop revenue losses
ⓘ
crop yield losses ⓘ losses due to adverse weather ⓘ losses due to disease ⓘ losses due to drought ⓘ losses due to excessive moisture ⓘ losses due to flood ⓘ losses due to freeze ⓘ losses due to frost ⓘ losses due to hail ⓘ losses due to insect infestation ⓘ losses due to natural disasters ⓘ price declines for certain crops ⓘ |
| expandedBy |
Agricultural Risk Protection Act of 2000
NERFINISHED
ⓘ
Federal Agriculture Improvement and Reform Act of 1996 NERFINISHED ⓘ |
| fundingSource | federal government ⓘ |
| implementedThrough | private insurance companies ⓘ |
| legalBasis | Federal Crop Insurance Act NERFINISHED ⓘ |
| modifiedBy |
2002 Farm Bill
NERFINISHED
ⓘ
2008 Farm Bill NERFINISHED ⓘ 2014 Farm Bill NERFINISHED ⓘ 2018 Farm Bill NERFINISHED ⓘ |
| monitoredBy |
Government Accountability Office
NERFINISHED
ⓘ
Office of Inspector General (USDA) NERFINISHED ⓘ |
| oversightBy | United States Congress NERFINISHED ⓘ |
| parentAgency | United States Department of Agriculture NERFINISHED ⓘ |
| provides |
area-based insurance policies
ⓘ
revenue protection policies ⓘ subsidized crop insurance ⓘ whole-farm revenue protection ⓘ yield protection policies ⓘ |
| purpose |
protect farmers against crop revenue losses
ⓘ
protect farmers against crop yield losses ⓘ provide risk management tools to agricultural producers ⓘ reduce the need for ad hoc disaster assistance ⓘ stabilize farm income ⓘ |
| regulates | approved insurance providers ⓘ |
| relatedConcept |
adverse selection in insurance
ⓘ
moral hazard in insurance ⓘ |
| relatedProgram | Noninsured Crop Disaster Assistance Program NERFINISHED ⓘ |
| riskType |
price risk
ⓘ
production risk ⓘ revenue risk ⓘ |
| sector | agriculture ⓘ |
| subsidizes | insurance premiums ⓘ |
| subsidyType |
administrative and operating expense subsidy
ⓘ
premium subsidy ⓘ |
| targetGroup |
agricultural producers
ⓘ
farmers ⓘ ranchers ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.