Reading Time: 4 minutes Alberta’s crop insurer will pay out a record amount in claims — and that means the 20 per cent premium discount is being scrapped. Eleven months ago, Agriculture Financial Services Corporation announced it was not only cutting premiums by one-fifth, but would keep the discount for five years barring a “significant wreck.” But that’s exactly […] Read more
Premium discount for crop insurance being axed following record payout
After paying out $1.5 billion for crop losses last year, insurer says 20 per cent reduction won’t continue
Ontario to extend labour-related crop loss coverage
Losses due to COVID-19-related labour disruptions covered
A temporary crop insurance expansion that covers Ontario farms against crop losses due to “on-farm labour disruptions” caused by COVID-19 will be held over for yet another year. Agricorp, the province’s farm program delivery agency, announced in late December the feature first introduced in 2020 will be included again in 2022, at the same coverage […] Read more
Hail payouts exceed premiums in 2021
Reading Time: < 1 minute It was a near-record year for claims in Western Canada “despite a decrease in overall storm activity,” says the Canadian Crop Hail Association. Claim payments to Prairie farmers topped $322 million, and were up 78 per cent compared to the five-year average. It was the highest payout since 2008 and meant insurers, which collected $309 […] Read more
Late enrolment in AgriStability not much help, says Alberta Wheat
An uncertain AgriStability payout a year from now won’t help grain farmers facing cash flow issues
Reading Time: 3 minutes Allowing for late participation in AgriStability is unlikely to help Alberta producers facing a cash flow crunch. “We’re going to be going into a period of significant cash flow shortages for farmers — maybe not all, but many,” said Tom Steve, general manager of Alberta Wheat and Barley. “Late enrolment would be fine, but is […] Read more
Team Alberta calls for more action from the provincial government
The four major crop commissions say the government’s message is that producers will have to rely only on crop insurance
Reading Time: 3 minutes Representatives of Alberta’s four major crop commissions, known as Team Alberta, want producers to know their precarious situation hasn’t been forgotten. On October 13 Team Alberta issued a memo to producers outlining how it “continues to press the provincial government to acknowledge the ongoing situation and find solutions to protect farmers against the mounting risks […] Read more
Nexera canola seed to come with heat blast insurance
Corteva's 'Heat Advantage' provides coverage on seed purchased by Oct. 29
Farmers can’t prevent canola flowers from aborting in hot weather resulting in lower yields, but one seed company is providing some insurance against it — as part of the price of the seed. Brevant’s Nexera canola seed comes with a “a first-of-its-kind” insurance policy worth up to $100 an acre to offset yield losses due […] Read more
Cattle groups lay out a four-part drought action plan to government
Livestock tax deferral, AgriRecovery, and quick access to withered crops are all priorities
Reading Time: 3 minutes The Canadian Cattlemen’s Association and provincial cattle organizations have a plan to help drought-stricken beef producers. But quick action is needed, they say. The groups outlined a four-part strategy for immediate relief measures requested from federal and provincial governments during a CCA virtual Town Hall on July 19. All provincial cattle organizations, including Alberta Beef […] Read more
Manitoba triggers hay disaster benefit
Per-tonne rate lifted to cover feed, transport costs
Manitoba’s crop insurance agency is set to lift the per-tonne rate paid out on insured forage crops to help cover livestock producers’ bills to buy and truck in replacement feed. Manitoba Agricultural Services Corp. (MASC) on Thursday announced a 2021 hay disaster benefit to provide another $44 per tonne, for every tonne below coverage, to […] Read more
Tax deferrals, crop insurance changes en route against drought
Assessments underway for AgriRecovery, minister says
Updated — As the federal government looks to manage impacts of ongoing drought conditions in Canada’s West, producers in parts of five provinces can already expect to be eligible for the livestock tax deferral program. Agriculture Minister Marie-Claude Bibeau announced Thursday in Winnipeg that producers in drought-designated areas of southern Alberta, southeastern British Columbia, northwestern […] Read more
Alberta crop insurance payout could exceed $1 billion
It’s too early for accurate estimates but the scale of the disaster is massive, says provincial crop insurer
Reading Time: 3 minutes Crop insurance payouts could top a billion dollars for the devastating drought that has hit much of Alberta. “We collected about $600 million in premiums this year, so we’re looking potentially at payments twice that amount,” said Darryl Kay, CEO of Agriculture Financial Services Corporation (AFSC.) “It’s really early yet, so it’s hard to speculate […] Read more
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