April 5, 2022
Every year, farmers across Ontario face risks beyond their control, such as challenging planting, growing and harvesting conditions. This is where Production Insurance can help.
Production Insurance covers production losses and yield reductions, and farmers can choose the type and level of coverage that best meets their needs. Also, when there is uncertainty with market prices, Production Insurance coverage is a reliable tool because it reflects the current value of a commodity.
Farmers have until May 16 to secure Production Insurance
It's application and renewal time for the Production Insurance Spring Policy. This year, farmers are facing increased uncertainty about markets and input costs. To give them more time to make important planting decisions, farmers now have until May 16 to apply for or make changes to their 2022 Spring Policy coverage.
This extension gives farmers more time to make planting and other farm business decisions and still have time to get coverage for the commodities they choose to plant.
Applications are available by contacting Agricorp, and existing customers are now receiving their renewals. Now is the time to review coverage options to make sure they meet the current needs of the farm business for the year ahead.
As a reminder, to qualify for RMP: Grains and Oilseeds, farmers need to be enrolled in 2022 Production Insurance.
What’s new for 2022?
Coverage extended for on-farm labour disruptions due to COVID-19
For the 2022 program year, coverage has been extended for production losses caused by on-farm labour disruptions due to COVID-19. This coverage was introduced in 2020 to help farmers manage risks beyond their control.
Pedigreed seed coverage now available
Coverage for pedigreed seed is now available for soybeans and spring wheat. Pedigreed seed coverage is yield based, includes a germination guarantee and has higher price options to reflect the value of the crop. Eligible crops include pedigreed seed soybean and spring wheat crops that meet pedigreed seed production standards. This coverage will also be available for next year’s winter wheat crop (2023).
New 85% coverage level for beans
An 85% coverage level is now available for adzuki, black, cranberry, Japan/other and kidney beans. The new coverage level gives farmers more flexibility in managing their risks.
New species covered under new forage seeding
Farmers can now insure rye, barley and all fescues under new forage seeding coverage. These additions make coverage more reflective and inclusive of commonly grown species.
Insurable values and abandonment thresholds updated for root vegetables
Updated insurable values and abandonment thresholds for root vegetables reflect the real costs that farmers are currently facing and are now available on agricorp.com. Under acreage-loss basis coverage, insurable values are the basis of the premium and abandonment claims.
Full Spring Policy information is available on agricorp.com
Agricorp.com has all the information needed to participate, including premium rates, important dates and other information about how the program works. Customers can simply select their commodity to find information and learn about any 2022 program updates for the commodities they grow.
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