Ontario's Risk Management Program (RMP) helps producers manage risks beyond their control, like fluctuating costs and market prices. RMP works like insurance to help Ontario producers offset losses caused by low commodity prices and rising production costs.
As with other insurance-like programs delivered by Agricorp, you receive a payment when you incur a loss. Participants pay premiums based on their annual anticipated livestock sales and chosen coverage level. Payments are made if the average market prices for enrolled livestock fall below the support level. The support level is the cost of production multiplied by your coverage level. You can choose a coverage level of 80, 90 or 100 per cent.
Funding partners
RMP is provincially funded only, meaning the Ontario government funds its traditional 40 per cent share. Producers pay part of the premium cost and none of the administration cost. Administrative costs are fully funded by the provincial government. The 40 per cent funding is reflected in the payment calculation and premium rates.