Federal Crop Insurance Act Law and Legal Definition

Federal Crop Insurance Act is a federal legislation that provides the U.S. farmers and agricultural entities with crop insurance protection. The legislation was created in response to the economic difficulties occured to the U.S. farming industry by the Great Depression and the weather-related catastrophe.

The federal statute 7 USCS § 1502 lays down the purpose of the Act which states that the Act promotes for the national welfare by improving 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.