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Insurance Programme for Producers

27 February 2013

CANADA - The federal and provincial governments are continuing to support Manitoba producers, their families and communities through the AgriInsurance programme by providing a record level of coverage for 2013, Federal Agriculture Minister Gerry Ritz and Manitoba Agriculture, Food and Rural Initiatives Minister Ron Kostyshyn announced.

"Production insurance remains the foundation of a strong risk management system on the farm," said Minister Ritz.

"I'm pleased to continue to work with the Province to strengthen programs that will enhance coverage options for Manitoba producers."

"As a province, we've listened to and worked with producers to improve our insurance products and make sure they offer the coverage they need to address the unpredictable effects nature can have on their crops," said Minister Kostyshyn.

The Province announced it is increasing insurance coverage for 2013 by 13 per cent to an all time high of C$2.6 billion. As well, the areas eligible for insurance will be expanded to offer insured values that keep pace with changes in the market.

The increase is a result of higher insured crop values compared to 2012, resulting in about C$200 million of additional insured coverage. Even with pressure on provincial budgets, the Province of Manitoba continues its strong commitment to the agricultural sector, with the province's share of AgriInsurance premiums increasing to C$67.16 million for 2013, up C$8.3 million from last year.

"We understand that insurance is the first line of defence for farms and this is why from 2010 to 2012, AgriInsurance paid out over C$700 million to Manitoba producers. This has provided producers, their farm operations and communities with the stability needed to be successful," said Kostyshyn.

Ritz and Kostyshyn noted that the work continues on reviewing livestock insurance in partnership with other provinces. In addition, Manitoba will be developing a new set of forage programs for Manitoba producers with an anticipated launch of 2014. These changes are in keeping with the commitment to enhance AgriInsurance under the Federal-Provincial Growing Forward 2 Agreement.

The AgriInsurance changes for 2013 include:

  • Expanding insurance availability, on a test basis, to soybeans, grain corn, sunflowers and dry edible beans, which previously were restricted to certain designated areas. The development of new varieties in recent years has allowed for insurance to be provided outside of traditional growing areas.
  • Expanding the Pasture Days Insurance Pilot Program to the Dauphin and Neepawa insurance agencies, with the objective of determining how much demand there is for this product.
  • Adding an over-seeding option to the Forage Restoration Benefit. This provides producers with another option for restoring damaged forage crops.

TheCropSite News Desk

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