Ontario asparagus producers have until October 30 to enrol or change their coverage for Production Insurance.
The Production Insurance plan for asparagus is a yield-based plan, meaning producers are guaranteed a level of production based on their historical yield. A claim may be paid if an insured peril causes a producer’s yield to fall below their guaranteed production.
Base premium rates for Production Insurance are set annually to reflect factors like past performance of the plan, changes to the claim price, and the level of the Production Insurance Fund. The federal and provincial governments pay up to 60 per cent of the required premiums and 100 per cent of the administration cost of delivering the program.
October 30 is also the last day to report asparagus acres. Although asparagus is a perennial crop, producers need to report their acres each year to ensure their coverage is up to date.
Asparagus producers who wish to enrol in Production Insurance should contact Agricorp or visit the asparagus section for more information.