The Federal Crop Insurance Act (Act) (7 U.S.C. § 1505 Management of Corporation), established the composition of the Board of Directors to manage the Federal Crop Insurance Corporation (FCIC) subject to the general supervision of the Secretary of Agriculture.

The Board delegates to the manager of the FCIC (RMA Administrator) certain authorities and powers. The Board approves any new policy, plan of insurance or major modification to an existing plan or other materials under procedures established by the Board.

The Code of Federal Regulations (CFR), Title 7-Agriculture, Subtitle B-Regulations of the Department of Agriculture, Chapter IV- Federal Crop Insurance Corporation that refer to the general administrative regulations of the FCIC are codified in 7 CFR 400. Regulations that pertain to private sector plans of insurance submissions are published in Subpart V, 7 CFR 400.700-722.

• The Under Secretary responsible for the Federal Crop Insurance Program, Robert Bonnie;
• Under Secretary, Vacant;
• USDA Chief Economist, Dr. Seth Meyer;
• FCIC Manager (non-voting), Marcia Bunger;
• Four farmers, one of whom grows specialty crops:
  • Nicole Berg
  • Pat Swanson
  • Chris Bardenhagen
  • Howard James
• An individual involved in insurance (often an agent), Scott Silveus;
• An individual knowledgeable about reinsurance or regulation, Kenneth Selzer

The corporation takes actions necessary to improve the actuarial soundness of Federal multiperil crop insurance coverage, and apply the system to all insured producers in a fair and consistent manner.