Recent enhancements to AgriInsurance continue to strengthen insurance as the first and best defence against unforeseen events such as excess moisture, Agriculture, Food and Rural Initiatives Minister Stan Struthers announced at Manitoba Ag Days.
“Many farmers suffered crop production shortfalls and quality losses and Manitoba Agricultural Services Corporation has had one of the highest claim years in its history following the extreme rainfall in 2010,” said Struthers. “As we anticipate another wet year in 2011, we encourage producers to explore their AgriInsurance options and sound risk-management programs to help with the development, growth and sustainability of a strong rural Manitoba.”
Agriculture plays a major role in Manitoba’s economy and AgriInsurance offers protection to Manitoba farmers against losses due to natural perils for a wide range of commodities, Struthers said. Progress for 2011 includes:
• increasing monetary coverage by almost 12 per cent on average, as the result of increases in commodity values and probable yields;
• introducing an overwinter bee mortality insurance program, in response to severe overwinter honey bee losses in recent years; and
• advancing the development of livestock insurance programming in partnership with the federal government and the livestock industry.
Other program highlights for the coming year include:
• phasing in 100 per cent compensation for crop damage caused by big game and migratory waterfowl and predation of domestic livestock caused by natural predators;
• continuing the forage restoration benefit as well as forage establishment insurance at $60 per acre, a 50 per cent improvement over previous levels, and continuing the insurable period to October, from the previous June deadline;
• continuing the Pasture Days Insurance Pilot Program that was launched in 2010, allowing livestock producers to protect against reduced grazing capacity due to drought or excess moisture; and
• continuing the Young Farmer Crop Plan Credit of $300 for young producers who enroll in AgriInsurance for the first time.
“It is important that producers look to insurance to protect themselves against risks such as excess moisture damage to crops and pasture land,” said Struthers. “And we are committed to assisting producers through these difficult situations by continuing to develop efficient AgriInsurance programs.”
Under AgriInsurance, premiums for most programs are shared 40 per cent by participating farmers, 36 per cent by the Government of Canada and 24 per cent by the Province of Manitoba. Administrative expenses are paid 60 per cent by Canada and 40 per cent by Manitoba.
