Federal Crop Insurance Corporation Law and Legal Definition

The Federal Crop Insurance Corporation (FCIC) is a corporation that is wholly owned by the U.S. government. The FCIS is managed by the USDA’s Risk Management Agency.

The FCIC takes care of the Federal crop insurance program which provides U.S. farmers and agricultural entities with crop insurance protection. It also provides the means for the research and experience helpful in devising and establishing such insurance.

The FCIC is managed by the Federal Crop Insurance Corporation Board of Directors. The composition of the Board of Directors was established by the Federal Crop Insurance Act. The Board of Directors is subject to the general supervision of the Secretary of Agriculture.