Today, Canada's Minister of Agriculture and Agri-Food Lawrence MacAulay and Saskatchewan Agriculture Minister Daryl Harrison announced continued funding and commitment through the 2025 Crop Insurance Program, administered by the Saskatchewan Crop Insurance Corporation (SCIC).
"Our business risk management programs are a producer's first line of defense when it comes to protecting their operation," MacAulay said. "Our government is pleased to partner with Saskatchewan to make sure producers have access to the support they need, when they need it."
"SCIC's Business Risk Management programs remain strong and are here for Saskatchewan producers when they have challenging times," Harrison said. "The Crop Insurance Program offers producers the security they need, no matter what 2025 may have in store. I encourage all Saskatchewan producers to take a proactive approach to their coverage: select options, fine-tune and adjust coverage and costs within the program to further mitigate their risks."
SCIC's existing suite of Business Risk Management programs continues to demonstrate support for Saskatchewan producers. Over the last four years, the Crop Insurance Program paid approximately $7 billion in claims, in addition to other program benefits. Crop Insurance continues to be a sound program, with premiums set to ensure the long-term sustainability of the program. A combination of Crop Insurance premium and government funds, along with private reinsurance, is in place to ensure the program remains stable. Funds are managed to build premium reserves in good production years, in order for money to flow back to producers during challenging ones. Premiums are cost-shared 60 per cent by federal and provincial governments and 40 per cent by producers.
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