Sector
Approved insurance providers delivering federal crop insurance
Documented money flows
- U.S. Department of Agriculture to Approved insurance providers delivering federal crop insurance, payment, $3,700,000,000, 2022. Exhibit 651
Findings that rest on exhibits naming this entity
- AGR-3.3: GAO reported that federal crop insurance premium subsidies in 2022 totaled $12 billion, averaged about 62 percent of premiums, and were set by Congress regardless of income. RMA’s table for crop year 2024 shows $8.89 billion, 63 percent of premiums.
- AGR-3.4: In 2022 the government paid private insurance companies about $3.7 billion to deliver crop insurance, and from 2011 through 2022 their return on retained premiums averaged 16.8 percent against a market-based 10.2 percent.
- AGR-3.16: No public USDA or GAO tabulation combines direct payments, crop insurance premium subsidies, indemnities and ad hoc aid by recipient decile or by crop group.
Exhibits naming this entity
- Exhibit 651 November 2023. U.S. Government Accountability Office: Crop Insurance: Update on Opportunities to Reduce Program Costs (GAO-24-106086)