Agriculture Financial Services Corporation is making several adjustments to its perennial crop insurance programs for 2020.
- Recalculated historical pasture normal yields, resulting in an increase of coverage for pasture insurance. On average, pasture normal yields have increased approximately 55 per cent for this year, which means clients receive higher compensation in the event of a loss.
- Updated methodology to determine price options to better reflect feed replacement cost in the event of a loss.
- Adjusted minimum daily precipitation threshold of 0.1 mm for moisture-based products (Moisture Deficiency Insurance and Moisture Deficiency Endorsement). This means moisture recorded at less than 0.1 mm is now considered zero precipitation. This change addresses instances of evaporation of small amounts of precipitation, which will not count towards total moisture accumulation.
- Added weather stations near Iddesleigh and east of Drumheller. Clients can choose one, two or three weather stations within proximity of their land base to best represent conditions on their farm.