Risk Management Agency

Risk Management Agency Type: Independent agencies Parent organization: United States Department of Agriculture Employees: 390 Executive: Administrator Budget: $67.1 million (Fiscal Year 2021) Address: 1400 Independence Ave SW, Washington, DC 20250 Website: https://www.rma.usda.gov/ Creation Legislation: Federal Agriculture Improvement and Reform Act of 1996 Wikipedia: Risk Management Agency

Risk Management Agency [{"name":"Risk Management Agency","title":"\u003Ca class=\"mw-selflink selflink\"\u003ERisk Management Agency\u003C\/a\u003E","lat":38.88687,"lon":-77.02996,"otherValues":{"HeadquartersAddress":"1400 Independence Ave SW, Washington, DC 20250"}}] This map created from a Cargo query ()

Mission The mission of the Risk Management Agency is to promote, support, and regulate sound risk management solutions to preserve and strengthen the economic stability of America's agricultural producers. It achieves this by managing the Federal Crop Insurance Corporation and offering crop insurance and risk management tools.

Services Federal crop insurance; risk management education; insurance product development

Regulations Oversees regulations related to the Federal Crop Insurance Program

Risk Management Agency
File:US-RiskManagementAgency-Logo.svg
Agency Overview
Formed	1996 (1996)
Jurisdiction	United States Department of Agriculture
Agency Executive	Marcia Bunger, Administrator
Website
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The Risk Management Agency (RMA) is an agency of the U.S. Department of Agriculture, which manages the Federal Crop Insurance Corporation (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 Federal Crop Insurance Corporation (FCIC).

The FCIC was created in 1938, during the Great Depression, 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 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 RMA Administrator serves as the non-voting manager of the Federal Crop Insurance Corporation 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.

See also

• Risk management

External links

• Official website
• Risk Management Agency in the Federal Register