Production Insurance (PI) is a business risk management program that protects Ontario producers from yield reductions and crop losses caused by adverse weather and other insured perils.
Agricorp administers the Production Insurance program on behalf of the Government of Ontario and Agriculture and Agri-Food Canada under the Agricultural Policy Framework (APF).
Production Insurance protects more than 19,000 Ontario producers and 4.3 million acres of Ontario farmland annually.
If you're looking for peace of mind, Production Insurance is the risk management tool to fit your needs. Production Insurance coverage is available on 64 commercially grown crops in Ontario.
Agricorp's Production Insurance program provides non-traditional production coverage for the following plans, and for events such as rainfall:
- Forage
- Fruit and Honey
- Grains
- Oilseeds
- Vegetables
- Seed Corn, Sugar Beets, Hemp, Tobacco.
What can Production Insurance do for you?
- Stabilize your cash flow in unsuccessful years by providing a plan-specific production guarantee with claim payments paid in the year of the loss.
- Help meet your financial obligations to reinvest in the growth of your operation.
- Provide collateral to secure loans.
- Stabilize your Canadian Agricultural Income Stabilization (CAIS) Program reference margin over time.
The CAIS and PI Connection
The CAIS and PI programs address different risks faced by Ontario producers. By participating in both CAIS and PI, you can take full advantage of the protection available from government risk management programs. If participating in PI reduces the government share of your CAIS benefit you may also recover up to 100 percent of your PI premium.
PI claim payments count as income in calculating your CAIS reference margin. Depending on weather and/or market conditions, in a given year you could receive a CAIS benefit, a PI claim, or both.
Questions?
If you have any questions or concerns, please call Agricorp's Call Centre toll free between 7 a.m. and 5 p.m., Monday to Friday at 1-888-247-4999 or email contact@agricorp.com.
