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Expanding Agricultural Production Insurance

on December 12 | in Ag News | by | with No Comments

From an Ontario News Release

Proposed Agriculture Insurance Act to Help Grow Agri-Food Industry

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.

For more information, please visit the Omafra website.

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