CGC Plans Move to Group Insurance Model, Comment Period Open now

Changes to the Canadian Grain Commission are in the works, and farmers, grain handlers and industry stakeholders are all encouraged to take a look at the proposed move to an insurance-based model for grain security as a condition of licensing approval.

Remi Gosselin, manager of communications for the CGC, says that this change, currently published in the Canada Gazette, will not only save money for the CGC, licensees and farmers, but it should also reduce the risk of farmers not getting paid. Should defaults occur, the new streamlined policy should mean farmers receive settlements faster. In the audio interview above, Gosselin explains how the process differs from the current means of security against bought grain, the benefits of the new system and when the changes will take place.

For those interested in commenting, which is a part of the Gazetting process, you’ll have until early November to do so, so don’t wait. To read the entry in the Gazette and to find out how to submit your comments, click here.

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