No Fixed Amount
Type of Program:
AgriInsurance is a federal-provincial-producer cost-shared program that stabilizes a producer's income by minimizing the economic effects of primarily production losses caused by severe but uncontrollable natural hazards. Some examples of possible eligible perils are drought, flood, wind, frost, excessive rain, heat, snow, uncontrolled disease, insect infestations and wildlife.
Producers get a payment when they experience a production loss during the year. We contribute a portion of total premiums and administrative costs to this provincially delivered program.
Five provinces participate in the reinsurance arrangement: Alberta, Manitoba, New Brunswick, Nova Scotia and Saskatchewan.
Comments on Funding:
The federal and provincial governments help to make production insurance affordable by sharing the cost of premiums with producers and by co-funding program administration.
When It Ends:
Each province currently has either a Crown Corporation or a branch of the provincial agriculture department responsible for administering the AgriInsurance program. Check with Agricorp the application steps for Ontario.
Other Things to Note:
- 1The objective of the AgriInsurance (formerly Production Insurance and Crop Insurance) program is to mitigate the financial impacts of production losses by providing affordable insurance protection and by offering reinsurance.
- 2Each province develops and delivers AgriInsurance plans in accordance with the Farm Income Protection Act, the Canada Production Insurance Regulations and Multilateral Framework Agreements to meet the needs of the producers in that province.
- 3Program accepting applications according to sources.