FY26-Expert-Board-Reviews-01

DESCRIPTION OF SOURCES SOUGHT

The purpose of this notice is to identify potential sources for addition to the general pool of Blanket Purchase Agreements (BPAs) of Board approved entities with expertise as actuaries or in underwriting of insurance policies to serve as reviewers of policies; In accordance with 7 USC CHAPTER 36, SUBCHAPTER I: FEDERAL CROP INSURANCE and 7 USC 1508: Crop insurance.

The Risk Management Agency (RMA) of the United States Department of Agriculture (USDA) is responsible for supervision of the Federal Crop Insurance Corporation (FCIC), administration and oversight of programs authorized under the Federal Crop Insurance Act (7 U.S.C. 1501 et. seq.), any pilot or other program involving revenue insurance, risk management education, risk management savings accounts; the uses of the futures market to manage risk and support farm income that may be established under the Federal Crop Insurance Act or other law; and, other programs the Secretary of Agriculture considers appropriate. The Agricultural Risk Protection Act of 2000 modified the Federal Crop Insurance Act to:

Require the Board of Directors of the Federal Crop Insurance Corporation to “establish procedures under which any policy or plan of insurance, as well as any related material or modification of such policy or plan of insurance, to be offered under this title shall be subject to independent reviews by persons experienced as actuaries and in underwriting, as determined by the Board;” and;
Direct the Board, to the maximum extent possible, to “contract with private insurance companies, private rating bureaus, and other organizations as appropriate for actuarial services, services relating to the loss adjustment and rating plan of insurance, and other services to avoid duplication by the Federal Government of services that are or may be readily available in the private sector.”

FCIC is attempting to determine the availability of sources within the private sector to conduct these...