Ontario is offering production insurance to tender fruit growers who lose their trees so they can feel confident in growing their businesses while managing risks inherent to farming. Tender fruit trees now eligible for coverage include pear, plum, sweet and sour cherry, peach and nectarine.
Tender fruit producers who buy production insurance can now claim compensation for the removal and replacement costs of trees that die as a result of specific risks covered by the plan. There is no additional cost for this new coverage. This will help Ontario tender fruit producers compete with producers in other Canadian provinces who already have access to tree loss coverage.
Production insurance is part of a suite of business risk management programs designed to help farmers manage losses due to unforeseen events beyond their control such as weather, pests and disease. Production insurance plans also encourage greater innovation, profitability and job creation in the agri-food sector.
Strengthening the agri-food industry is part of the government's economic plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs. The four-part plan includes helping more people get and create the jobs of the future by expanding access to high-quality college and university education. The plan is making the largest infrastructure investment in hospitals, schools, roads, bridges and transit in Ontario's history and is investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The plan is also helping working Ontarians achieve a more secure retirement.
Source : Ontario.ca