Recent enhancements to Manitoba’s AgriInsurance program are keeping pace with shifts in crop selection as farmers modify their operations to reflect changes in market prices and production costs, Agriculture, Food and Rural Initiatives Minister Rosann Wowchuk announced.
“As Manitoba’s agricultural industry evolves, insurance programs must continue to change in order to meet farmers’ risk management needs,” Wowchuk said.
The minister noted the name of the program has changed from Production Insurance to AgriInsurance in support of the new Growing Forward agreement. AgriInsurance will continue to offer risk management options for crop production on which farmers have come to rely.
Changes made to the AgriInsurance program provided through the Manitoba Agricultural Services Corporation (MASC) for 2009 include:
• a decrease in premium rates by an average of five per cent due to low losses in the last two years;
• an expansion of the insurable area for soybeans in response to grower requests, new earlier‑maturing varieties and an increase in the acreage of soybeans grown in Manitoba;
• an increase in the Forage Restoration Benefit, which provides assistance to insured farmers who lose hay crops due to excess moisture, to $60 from $40 per acre, and an extension of the insurable period for this benefit from June 20 to Oct. 1; and
• an increase in the the higher level of financial coverage for Forage Establishment Insurance to $60 from $40 per acre.
“Lower premium rates mean direct savings to producers wishing to insure their 2009 crops against adverse weather conditions,” said Wowchuk. “Improving insurance programs is a continuing challenge and we appreciate input from producers who recognize first hand what is needed to help them meet their production goals.”
MASC provides insurance on over 85 per cent of the annual crops grown in Manitoba, with coverage available on 60 different crops.
