More than 8,600 Manitoba farms signed up for AgriInsurance
By Diego Flammini, Farms.com
Representatives of the provincial government of Manitoba and the federal government were on hand to deliver the good news to Manitoba farmers that beneficial changes to the AgriInsurance Program are being implemented.
Agriculture and Agri-Food Canada describes the program as “a federal-provincial-producer cost-shared program that stabilizes a producer's income by minimizing the economic effects of production losses caused by natural hazards.”
Among the improvements are:
- Offering higher coverage for pedigreed soybeans, taking into account the cost of producing them. Soybeans are anticipated to be the largest pedigreed crop in the province for 2015
- Making the guaranteed grade for oil sunflowers #1 Canada from #2 Canada.
- Making the escalating coarse hay deductible a flat rate of 20% for the Harvest Flood Option
"AgriInsurance is the first line of response for producers dealing with weather related damages to their crops," said Agriculture Minister Gerry Ritz in a release. "We continue to work closely with Manitoba to ensure producers have access to predictable and bankable programming designed to meet their needs."
Under AgriInsurance programs, the cost is split as follows:
- 40% by the participating farmers
- 36% by federal government
- 24% by Manitoba government
Administrative fees are 60% the responsibility of the federal government and 40% by Manitoba.
"Every year, Manitoba's insurance and risk management programs are adjusted based on feedback from producers and other stakeholders,” said Ron Kostyshyn, Manitoba’s Agriculture, Food and Rural Development Minister in a release. “These changes help provide a strong risk management framework for crop and livestock producers, young farmers and those affected by flooding and other challenges."