Why are 5 million acres of Ontario farmland insured under Production Insurance each year?
In a word:
protection.
Production Insurance protects Ontario producers from
yield reductions and crop losses caused by factors beyond their control,
including adverse weather, disease, pests, wildlife or other uncontrollable
natural perils.
When you enrol in Production Insurance for grains and oilseeds, you are guaranteed a level of production based on your yield history and the level of coverage you choose. Claims are paid when an insured peril causes your yield to fall below your guaranteed production.
