Expanding Agricultural Production Insurance

OMAFRA News Release.

 

Ontario is proposing amendments to the Crop Insurance Act, 1996, that would, if passed, allow more types of agricultural products to be covered by production insurance.

 

Production insurance is part of a suite of business risk management programs designed to help farmers manage losses due to events like weather, pests and disease. The costs of these programs are predictable, stable and shared by producers and the provincial and federal governments.

 

Currently, production insurance is available for almost 90 commercially grown crops, including grains, oilseeds and certain fruits and vegetables. However, Ontario is the only province in Canada without the authority to expand production insurance beyond crops to the broader agricultural sector.

 

If passed, the proposed Agriculture Insurance Act would give Ontario the authority to expand insurance to support the agri-food industry in the event of unexpected loss of production for agriculture products.

 

Expanding the number of products eligible for production insurance and strengthening the agri-food industry is part of the government's economic plan for Ontario. The four-part plan is building Ontario up by investing in people's talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives and building a secure savings plan so everyone can afford to retire.