Farmers are busy finalizing this year's cropping plans and reviewing their risk management plans.
Agriculture Financial Services Corporation manages the program.
Among the changes for 2022:
Silage Greenfeed Insurance - Lack of Moisture which includes a reduction in recorded precipitation by 1.0 mm when daily temperatures reach 30 C, and by another 2.0 mm for a total of 3.0 mm when temperatures reach 35 C. As well, the minimum moisture threshold has increased from 0.1 mm to 1.0 mm.
Straight Hail Insurance - The canola base rate has dropped from 1.75 per cent to 1.5 per cent. For yellow, green and other field peas base rates have increased from 1.5 per cent to 1.75 per cent. AFSC notes factors for these crops were adjusted to better reflect the expected losses for these crops based on analysis of the historical experience of the premiums collected and indemnities paid. Also note that fields that have had previous hail damage are not eligible for Straight Hail Insurance.
Weather Stations - One new weather station has been added at Wardlow, while the Violet Grove weather station has been decommissioned. Two weather stations, Dapp and Bow Island North, have been replaced with Pibroch and Winnifred respectively. Clients who had selected Violet Grove, Dapp or Bow Island North in the previous year can update their selected weather stations by completing a Change Request prior to April 30. Producers are encouraged to review the Weather Station Map at afsc.ca as weather stations can change.
Alberta Premium Reduction - for 2022 this has been discontinued due to extreme weather events of 2021. Last year, based on a healthy insurance crop fund reserve, AFSC was able to provide clients with a 20 per cent premium reduction on the majority of insurance premiums. The plan was to re-evaluate the premium reduction annually and adjust based on the events of the previous year. Due to the major weather events of 2021, claim payouts are predicted to be the highest in AFSC’s history. This will result in a significant decrease in the fund reserve, making the Alberta Premium Reduction unsustainable and the discontinuation of the initiative for 2022 and subsequent years.
April 30, is the last day to make changes to (including updating your Declared Acres), or cancel your crop insurance coverage.
Click here to see more...