Ontario's Risk Management Program (RMP) helps producers manage risks beyond their control, like fluctuating costs and market prices. RMP for livestock was designed in consultation with representatives of the cattle, hog, sheep and veal industry in Ontario. RMP for livestock works like insurance to help Ontario producers offset losses caused by fluctuating commodity prices and production costs. Participants pay premiums based on their insured production and their chosen coverage level.
Last year, a 95 per cent coverage level was introduced as a cost-effective alternative to the existing 100 per cent coverage level.
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.