Crop Insurance Transparency Act

Bill: 118-hr-5747
Sponsor: full_name: Rep. Blumenauer, Earl [D-OR-3]
Introduced: 2023-09-27
Policy area: Agriculture and Food
Subjects: Agricultural insurance

Agricultural prices, subsidies, credit

Government information and archives
Latest action: action_date: 2024-01-17
text: Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.

Summaries:
action_date: 2023-09-27
action_desc: Introduced in House
text: <p><strong>Crop Insurance Transparency Act</strong></p><p>This bill requires the Department of Agriculture (USDA) to publicly disclose specific information about farmers and insurance providers participating in the&nbsp;federal crop insurance program (FCIP).  (The FCIP helps make insurance coverage available to farmers from private sector insurers to help mitigate potential financial consequences of adverse growing and market conditions.)</p><p>Specifically, USDA must annually disclose information on an individual or entity that obtained a federally subsidized crop insurance, livestock, or forage policy or plan of insurance, including their name, the amount of the premium subsidy received, and the federal portion of indemnities paid toward insured losses.</p><p>USDA must also annually disclose information on each private insurance provider participating in the FCIP, including their name, the underwriting gains earned by the provider through participation in the program, the amount paid to cover administrative and operating expenses, and the federal portion of indemnities and reinsurance costs.</p><p>The bill excludes from the disclosure requirements information that is related to individuals and entities covered by a catastrophic risk protection plan. (These plans are the minimum level of coverage offered under the program.)&nbsp;&nbsp;</p><!--tinycomments|2.1|data:application/json;base64,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-->

tv_txt: I 118th CONGRESS 1st Session H. R. 5747 IN THE HOUSE OF REPRESENTATIVES September 27, 2023 Mr. Blumenauer (for himself and Mr. Norman ) introduced the following bill; which was referred to the Committee on Agriculture A BILL To amend the Federal Crop Insurance Act to increase transparency with respect to crop insurance, and for other purposes.

1. Short title This Act may be cited as the Crop Insurance Transparency Act . 2. Crop insurance premium subsidies disclosure in the public interest Section 502(c)(2) of the Federal Crop Insurance Act ( 7 U.S.C. 1502(c)(2) ) is amended— (1) by redesignating subparagraphs (A) and (B) as subparagraphs (C) and (D), respectively; and (2) by inserting before subparagraph (C) (as so redesignated) the following: (A) Disclosure in the public interest Notwithstanding paragraph (1) or any other provision of law, except as provided in subparagraph (B), the Secretary shall on an annual basis make available to the public— (i) (I) the name of each individual or entity that obtained a federally subsidized crop insurance, livestock, or forage policy or plan of insurance during the previous reinsurance year; (II) the amount of premium subsidy received by the individual or entity from the Corporation; and (III) the amount of any Federal portion of indemnities paid in the event of a loss for that reinsurance year for each policy associated with that individual or entity; and (ii) for each private insurance provider, a description by the name of the private insurance provider of— (I) the underwriting gains earned through participation in the federally subsidized crop insurance program; and (II) the amount paid under this subtitle for— (aa) administrative and operating expenses; (bb) any Federal portion of indemnities and reinsurance; and (cc) any other purpose. (B) Limitation The Secretary shall not disclose under subparagraph (A) information relating to individuals and entities covered by a catastrophic risk protection plan offered under section 508(b). .