May 14, 2020
Farmers have until June 1, 2020, to apply for coverage under Production Insurance or make changes to existing coverage. This applies to Production Insurance plans that normally have enrolment deadlines of April 1, May 1 and May 10.
Extending the enrolment deadline gives farmers more time and flexibility to make business decisions and to assess their program coverage needs, especially in the current challenging times.
Coverage options for 2020 will not be affected, and program delays will not cause gaps in coverage, ensuring farmers continue to have coverage in place.
Although the deadline has changed, it is best to enrol before June 1 for producers able to do so, allowing time to process applications and do any necessary follow-up.
Production Insurance is designed to cover yield reductions and quality losses caused by adverse weather, disease, wildlife and insect infestation. It is part of a suite of government programs that work together to create a broad risk management plan. Farmers should also consider these other programs:
AgriStability provides whole farm coverage that is designed to cover large declines in net income caused by production losses, increased costs or market conditions. It covers the income of the whole farm instead of one commodity at a time.
AgriInvest is designed to cover small declines in net income.
The Risk Management Program (RMP) is designed to cover losses caused by fluctuating costs and market prices, and is available to producers of grains and oilseeds, cattle, hogs, sheep and veal.
Other deadlines extended for 2020
The deadline to enrol or make changes to coverage for RMP has been extended from May 1 to June 30. Producers also have until July 3 to secure coverage in AgriStability this year.
Contact Agricorp to enrol or make changes
Agricorp staff is working hard to follow up with all customers as soon as possible and thanks everyone for their patience during this time.