Federal Crop Insurance: A Primer. Congressional Research Service. Stephanie Rosch. February 18, 2021
The federal crop insurance program (FCIP) offers farmers the opportunity to purchase insurance coverage against financial losses caused by a wide variety of perils, including certain adverse growing and market conditions. The federal government subsidizes the premiums that farmers pay for these insurance policies to encourage farmer participation. Farmers can choose among many types of policies and policy options to customize the coverage to their farm businesses’ specific needs. Private-sector companies sell and service the policies; the U.S. Department of Agriculture (USDA) plays critical roles in subsidizing, regulating, and reinsuring the policies.
[PDF format, 49 pages].
