Saskatchewan Farmers Must Finalize Crop Insurance Contracts by March 31
In a significant move to bolster agricultural resilience, Canada's Agriculture Minister Lawrence MacAulay and Saskatchewan's Agriculture Minister Daryl Harrison have announced continued support through the 2025 Crop Insurance Program.
This program, managed by the Saskatchewan Crop Insurance Corporation (SCIC), is important for farmers navigating the unpredictabilities of farming.
Enhancing Business Risk Management "Our business risk management programs are a producer's first line of defense when it comes to protecting their operation," remarked Minister MacAulay. This initiative reflects the government's dedication to ensuring that farmers have necessary support promptly.
Program Features and Updates the Crop Insurance Program is designed to offer security against various agricultural risks, encouraging farmers to proactively manage their insurance coverage. With a payout of approximately $7 billion in claims over the last four years, the program’s effectiveness is evident.
Premiums are strategically set to promote the long-term sustainability of the program, with a cost-sharing model where 60 percent is covered by the government and 40 percent by producers.
Collaborative Efforts for Future Development SCIC is also exploring innovative technologies like remote sensing to enhance forage and pasture insurance. "We appreciate the continued focus and work on forage insurance," said Chad Ross, Chair of the Saskatchewan Cattle Association.
Important Deadlines and Recommendations Farmers in Saskatchewan must finalize their crop insurance contracts by March 31, 2025, to adjust their coverage based on the operational needs. SCIC offices are available to assist with these adjustments, ensuring that producers are well-prepared for the upcoming growing season.
With a suite of Business Risk Management Programs available, including AgriStability and Livestock Price Insurance, Canadian farmers are well-equipped to face the challenges and opportunities of the agricultural sector in the coming years.
For more detailed information, producers can contact their local SCIC office, call 1-888-935-0000, or visit scic.ca.
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