Today, Canada’s Minister of Agriculture and Agri-Food Lawrence MacAulay and Saskatchewan Agriculture Minister Daryl Harrison announced continued funding and commitment through the 2025 Crop Insurance Program, administered by the Saskatchewan Crop Insurance Corporation (SCIC).
SCIC’s existing suite of Business Risk Management programs continues to demonstrate support for Saskatchewan producers. Over the last four years, the Crop Insurance Program paid approximately $7 billion in claims, in addition to other program benefits. Crop Insurance continues to be a sound program, with premiums set to ensure the long-term sustainability of the program. A combination of Crop Insurance premium and government funds, along with private reinsurance, is in place to ensure the program remains stable. Funds are managed to build premium reserves in good production years, in order for money to flow back to producers during challenging ones. Premiums are cost-shared 60% by federal and provincial governments and 40% by producers. Administration costs are fully funded by federal and provincial governments.
Trusted and relevant partnerships ensure the Crop Insurance Program remains innovative and responsive for Saskatchewan producers. SCIC collaborates regularly with industry groups to support farmers and ranchers, assisting with overall direction of policy and program offerings. Work continues developing future opportunities to enhance support for the livestock sector. SCIC is evaluating new remote sensing technologies to measure soil moisture and plant growth, to evaluate potential improvements to forage and pasture insurance. This focus will ensure forage insurance is relevant and accessible for Saskatchewan livestock producers.
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